Optical biosensors exhibit immense potential, offering extraordinary possibilities for biosensing due to their high sensitivity, reusability, and ultrafast sensing capabilities. This review provides a concise overview of optical biosensors, encompassing various platforms, operational mechanisms, and underlying physics, and it summarizes recent advancements in the field. Special attention is given to plasmonic biosensors and metasurface-based biosensors, emphasizing their significant performance in bioassays and, thus, their increasing attraction in biosensing research, positioning them as excellent candidates for lab-on-chip and point-of-care devices. For plasmonic biosensors, we emphasize surface plasmon resonance (SPR) and its subcategories, along with localized surface plasmon resonance (LSPR) devices and surface enhance Raman spectroscopy (SERS), highlighting their ability to perform diverse bioassays. Additionally, we discuss recently emerged metasurface-based biosensors. Toward the conclusion of this review, we address current challenges, opportunities, and prospects in optical biosensing. Considering the advancements and advantages presented by optical biosensors, it is foreseeable that they will become a robust and widespread platform for early disease diagnostics.