Carbon dots have gained tremendous interest attributable to their unique features. Two approaches are involved in the fabrication of quantum dots (Top-down and Bottom-up). Most of the synthesis methods are usually multistep, required harsh conditions, and costly carbon sources that may have a toxic effect, therefore green synthesis is more preferable. Herein, the current review presents the green synthesis of carbon quantum dots (CQDs) and graphene quantum dots (GQDs) that having a wide range of potential applications in bio-sensing, cellular imaging, and drug delivery. However, some drawbacks and limitations are still unclear. Other biomedical and biotechnological applications are also highlighted.