A monolayer of boron known as borophene has emerged as a novel and fascinating two-dimensional (2D) material with exceptional features, such as anisotropic metallic behavior and supple mechanical and optical capabilities. The engineering of smart functionalized opto-electric 2D materials is essential to obtain biosensors or biodevices of desired performance. Borophene is one of the most emerging 2D materials, and owing to its excellent electroactive surface area, high electron transport, anisotropic behavior, controllable optical and electrochemical properties, ability to be deposited on thin films, and potential to create surface functionalities, it has recently become one of the sophisticated platforms. Despite the difficulty of production, borophene may be immobilized utilizing chemistries, be functionalized on a flexible substrate, and be controlled over electro-optical properties to create a highly sensitive biosensor system that could be used for point-of-care diagnostics. Its electrochemical properties can be tailored by using appropriate nanomaterials, redox mediators, conducting polymers, etc., which will be quite useful for the detection of biomolecules at even trace levels with a high sensitivity and less detection time. This will be quite helpful in developing biosensing devices with a very high sensitivity and with less response time. So, this review will be a crucial foundation as we have discussed the basic properties, synthesis, and potential applications of borophene in nanobiosensing, as well as therapeutic applications.