In the realm of computer vision, object detection and tracking constitute fundamental tasks, and recent years have borne witness to astounding advancements attributed to the integration of deep learning techniques. This paper aims to provide a comprehensive overview of the remarkable progress achieved in the domain of object detection and tracking algorithms, shedding light on their profound implications for accuracy, speed, and practical applications in the real world. Advances in object detection have been primarily driven by the adoption of Convolutional Neural Networks (CNNs). Prominent models such as Faster R-CNN, YOLO (You Only Look Once), and SSD (Single Shot Multi-Box Detector) have emerged, significantly enhancing the precision of object identification. Additionally, efficient detectors like Efficient Det and Mobile Net have emerged, striking a balance between accuracy and computational efficiency, thereby enabling real-time applications, even on resource-constrained devices. For tracking, Multi-Object Tracking (MOT) algorithms have undergone improvements, incorporating graph-based approaches such as the Hungarian algorithm and Joint Probabilistic Data Association Filter (JPDAF). These advancements have enabled robust object tracking across video frames. This paper also delves into the synergy between deep learning and real-world applications, emphasizing the impact of these algorithms in domains like autonomous vehicles, surveillance systems, robotics, and augmented reality.