The integrative use of light and nanoassemblies has made a profound impact in the biomedical field for diagnosis, drug delivery, and phototherapy. Recent advances in the development of light‐responsive nanoassemblies showcase their capabilities in facilitating targeted diagnosis and therapy with minimal invasiveness, shaping the future of personalized medicine. In this work, the fundamental differences between types of light in biomedical applications, and the application of light‐responsive nanoassemblies in diagnosis and therapy are described, their biosafety profile is overviewed and discussed, and the translational challenges and potential clinical outlook of this emerging field are outlined.