Since it was reported in 2014, laser-induced graphene (LIG) has received growing attention for its fast speed, non-mask, and low-cost customizable preparation, and has shown its potential in the fields of wearable electronics and biological sensors that require high flexibility and versatility. Laser-induced graphene has been successfully prepared on various substrates with contents from various carbon sources, e.g., from organic films, plants, textiles, and papers. This paper reviews the recent progress on the state-of-the-art preparations and applications of LIG including mechanical sensors, temperature and humidity sensors, electrochemical sensors, electrophysiological sensors, heaters, and actuators. The achievements of LIG based devices for detecting diverse bio-signal, serving as monitoring human motions, energy storage, and heaters are highlighted here, referring to the advantages of LIG in flexible designability, excellent electrical conductivity, and diverse choice of substrates. Finally, we provide some perspectives on the remaining challenges and opportunities of LIG.