Biosensors are smart devices that convert biochemical responses to electrical signals. Designing biosensor devices with high sensitivity and selectivity is of great interest because of their wide range of functional operations. However, the major obstacles in the practical application of biosensors are their binding affinity toward biomolecules and the conversion and amplification of the interaction to various signals such as electrical, optical, gravimetric, and electrochemical signals. Additionally, the enhancement of sensitivity, limit of detection, time of response, reproducibility, and stability are considerable challenges when designing an efficient biosensor. In this regard, hybrid composites have high sensitivity, selectivity, thermal stability, and tunable electrical conductivities. The integration of phthalocyanines (Pcs) with conductive materials such as carbon nanomaterials or metal nanoparticles (MNPs) improves the electrochemical response, signal amplification, and stability of biosensors. This review explores recent advancements in hybrid Pcs for biomolecule detection. Herein, we discuss the synthetic strategies, material properties, working mechanisms, and integration methods for designing electrochemical biosensors. Finally, the challenges and future directions of hybrid Pc composites for biosensor applications are discussed.