Graphene quantum dots (GQDs), owing to their unique optical, electrical, and chemical properties, have emerged as promising nanomaterials for various biomedical applications. This review provides a comprehensive overview of the latest advancements in the utilization of GQDs in tissue engineering, wound healing, drug delivery systems, and other biomedical therapies. The inherent properties of GQDs, including high biocompatibility, tunable photoluminescence, and significant surface area, make them ideal candidates for enhancing medical treatments and diagnostics. In tissue engineering, GQDs improve the mechanical and biological performance of scaffolds, promoting cell proliferation and differentiation. For wound healing, GQDs enhance antimicrobial activity and facilitate faster tissue regeneration. Their potential in DDS is highlighted by their ability to deliver therapeutic agents efficiently, ensuring targeted and controlled release. Additionally, GQDs play a crucial role in biomedical therapies, particularly in cancer treatment, by enhancing drug efficacy and reducing side effects. While GQDs offer significant potential in enhancing medical treatments and diagnostics, challenges such as understanding their long‐term biocompatibility, potential cytotoxicity at higher concentrations, and the need for standardized synthesis methods remain critical areas for further research. This review also discusses the future directions and opportunities for GQDs, emphasizing their transformative potential in advancing modern healthcare solutions. The insights presented here contribute to the expanding field of GQD research, highlighting their potential to significantly enhance patient outcomes and drive healthcare innovations.