Smart fluorescent polymers are an interesting class of advanced materials that find widespread applications in diverse areas ranging from materials chemistry to biology. This review highlights the last 15 years' developments of end‐chain and side‐chain fluorescent polymer conjugates by employing various controlled polymerization techniques, with a major focus on “grafting to” or “grafting from” strategies. The fluorescent polymer conjugates that discussed in this review are limited to some conventional dye molecules such as perylene‐3,4,9,10,‐bis(dicarboximide), 1,8‐naphthalimide, tetraphenylethylene, azo dye, rhodamine, coumarin, fluorescein, pyrene, and a few other selected dyes. Attempts are also made to primarily describe the changes in optical properties of these conjugates in response to various external stimuli. Additionally, this review extensively discusses the formation of nanoassemblies of these fluorescent polymer conjugates, along with their various applications, majorly focusing on their role in bioimaging, drug delivery, and DNA binding.