Among a large number of current biomedical applications in the use of medical devices, carbon-based nanomaterials such as graphene (G), graphene oxides (GO), reduced graphene oxide (rGO), and carbon nanotube (CNT) are frontline materials that are suitable for developing medical devices. Carbon Based Nanomaterials (CBNs) are becoming promising materials due to the existence of both inorganic semiconducting properties and organic-stacking characteristics. Hence, it could effectively simultaneously interact with biomolecules and response to the light. By taking advantage of such aspects in a single entity, CBNs could be used for developing biomedical applications in the future. The recent studies in developing carbon-based nanomaterials and its applications in targeting drug delivery, cancer therapy, and biosensors. The development of conjugated and modified carbon-based nanomaterials contributes to positive outcomes in various therapies and achieved emerging challenges in preclinical biomedical applications. Subsequently, diverse biomedical applications of carbon nanotube were also deliberately discussed in the light of various therapeutic advantages. © 2020 by the authors.