The exploration of the ocean is essential for the exploitation of marine resources and the sustainable development of human society. In order to assess both the health and the resources of the marine environment, a variety of chemical and biological sampling is needed. Traditionally, marine samples are collected on site and transported to a laboratory for analysis. Analytical methods are often tedious, and it is difficult to know the in situ real-time status. This review provides a comprehensive summary of the development of in situ chemical and biological sensors for the typical compounds in the ocean, including methane, radon, ferrous ion, carbon dioxide, microorganisms, pollutants, nutrients and seafood. Different types of sensors for each compound are highlighted, such as novel electrochemical and optical sensors. Commercial status of different sensors is introduced, and performance of representative sensors is compared and discussed deeply. The advantages and disadvantages of each sensing technique are analyzed and evaluated in detail. Finally, future prospects and work directions are presented, such as the deployment of these in situ sensors on fixed and/or moving platforms, development of microfluidic sensors and exploration of new antifouling materials and methods. This paper could serve as a resource for developing more advanced in situ chemical sensors and biosensors for marine scientific research, as well as related practical applications for monitoring marine resource exploration and exploitation and for environmental protection.