The development of advanced biosensors with high sensitivity and selectivity is one of the most demanded concerns in the field of biosensors. To meet this requirement, up until now, numerous nanomaterials have been introduced to develop biosensors for achieving high sensitivity and selectivity. Among the latest nanomaterials attracting attention, MXene is one of the best materials for the development of biosensors because of its various superior properties. MXenes are two-dimensional inorganic compounds with few atomic layers that possess excellent characteristics including high conductivity and superior fluorescent, optical, and plasmonic properties. In this review, advanced biosensors developed on the basis of the MXene nanocomposite are discussed with the selective overview of recently reported studies. For this, introduction of the MXene including the definition, synthesis methods, and its properties are discussed. Next, MXene-based electrochemical biosensors and MXene-based fluorescent/optical biosensors are provided, which are developed on the basis of the exceptional properties of the MXene nanocomposite. This review will suggest the direction for use of the Mxene nanocomposite to develop advanced biosensors with high sensitivity and selectivity.