Heparin (Hp) is a multi-negatively charged polysaccharide with diverse physiological roles, particularly in regulating blood coagulation. Its clinical use as an anticoagulant requires a precise monitoring due to potential adverse effects at elevated levels. Therefore, there is a significant demand for an immediate, label-free, and user-friendly method to accurately quantify heparin (Hp). Herein we have explored a novel ratiometric sensing approach using coumarin-7 (C7) dye for precise Hp quantification. At pH 3, the protonated form of C7 undergoes aggregation upon interacting with polyanionic Hp via strong electrostatic forces. Consequently, there is alteration in the dynamics of the monomer-aggregate equilibrium for C7 in solution, resulting in the appearance of a new emission peak at ∼660 nm upon successive decline of the monomer peak at ∼512 nm. This leads to the generation of a ratiometric signal, which shows a nice linear response up to 6.8 μM of Hp to achieve limit of detection (LOD) of 89.6 nM for Hp in citrate buffer. Such ratiometric optical behaviour of C7 is not seen for any other interferants, which may be present in complex bio-matrices and thus, showcases a promising avenue for accurate and reliable Hp quantification even in complex biofluids. Additionally, the assembly C7 − Hp exhibits excellent responsiveness towards ionic strength of the medium, further extending its application towards the detection of an important bio-analyte, protamine (Pr). Importantly, this approach of ratiometric sensing strategy provides more accurate quantification due to its high reproducibility, minimal susceptibility to environmental effects, and self-calibration properties. The detailed spectroscopic analysis elucidates the dynamics of the C7 − Hp interaction, paving the way for advanced biosensing applications.