As a potential substitute for naturally occurring enzymes, nanozymes (nanomaterials with enzyme-mimicking catalytic activity) have emerged in recent years. Natural enzymes have a number of intrinsic shortcomings that could be addressed by nanozymes, including their expensive price, poor stability, storage complexities, and reliance on particular working conditions (e.g., restricted substrate, pH, and temperature ranges). Therefore, the creation and deployment of sophisticated nanozymes has the potential to drastically alter the state of biosensor applications and the life sciences as they exist today. Biosensors have been utilized for quite some time as a streamlined method to quantitatively detect biomarkers (analytes) of interest. Therefore, the utilization of nanozymes in such biosensors assumes significant importance in the pursuit of cost-effective and dependable biosensors for therapeutic monitoring, disease prognosis, and diagnostics. Nanozymes have been investigated for a wide range of biosensing applications throughout the last few years. However, only few of such initiatives have produced platforms and devices that may be used for point-of-care and on-site monitoring. Hence, by providing a thorough overview of current developments in the classification of common nanozymes, this review seeks to guide and support the future development of biosensor technologies based on nanozymes, with an emphasis on their applications in the biosensing sector. We envision that this review will promote coordinated efforts across disciplines and sectors, helping to bridge the gap that keeps nanozyme-based biosensor technology confined to lab settings rather than being used in real-world situations.