Lanthanide Single-Molecule Magnets (SMMs) fascinate the scientific community due to their plethora of potential applications ranging from data storage to spintronic devices and quantum computing. This review article proposes a comprehensive description of the influence of the nuclear spin, i.e. hyperfine interaction, on the magnetic properties of lanthanide SMMs and on quantum information processing of qudit. This influence is analysed for non-Kramers and Kramers lanthanide SMMs as well as for the electronic distribution of the electron in 4f orbitals i.e. oblate and prolate ions. Then the role of magnetic interactions in isotopically enriched polynuclear Dy(III) SMMs is discussed. Finally the possible effect of superhyperfine interaction due to the nuclear spin of elements originating from the surrounding of the lanthanide centre is analyzed. The effect of nuclear spin on the dynamics of the lanthanide SMMs is demonstrated using different techniques such as magnetometry, muon spectroscopy (μ-SR), and Mössbauer and Resonance Vibrational Spectroscopies.