The development of functional nanomaterials is crucial for advancing personalized and precision medicine. Graphene-metal nanocrystal hybrid materials not only possess the intrinsic advantages of graphene-based materials but also exhibit additional optical, magnetic, and catalytic properties of various metal nanocrystals, showing great synergies in bioapplications, including biosensing, bioimaging, and disease treatments. In this Perspective, we discuss the advantages and design principles of graphene-metal nanocrystal hybrid materials and provide an overview of their applications in biological fields. Finally, we highlight the challenges and future directions for their practical implementation.