The history of pulsed laser deposition (PLD) and transient plasmas generated by laser ablation is intertwined with the development of various techniques for its fundamental understanding. Some diagnostic tools have been developed to better suit the rapid transient nature of the plasma (space and time dependence of all parameters, fast decay and complex chemistry inside the plasma), whereas others have been adapted from basic plasma physics studies. Langmuir probe method has been used as a real-time in situ diagnostic tool for laser ablation and later for PLD. It remains a useful tool for the PLD community arsenal, which can easily be adapted to the development of new lasers and ablation regimes and new deposition configuration, being one of the most versatile techniques for plasma diagnostics. It is the cornerstone on which charge particles are analyzed and has led to several important discoveries, such as multiple peak distribution, selective acceleration during expansion, plume splitting, plasma turbulences and fluctuations. However, because the Langmuir probe theory adaptation from classical plasma physics is not straightforward, it might lead to misinterpretation and often incorrect analysis of data. This review analyzes the limits and understanding of the technique as a foundation for attaining its full potential, which can impact the way PLD is used. This is especially useful for the pressing need of real-time, in-situ diagnostics and feedback loops for systematic semi-industrial implementation of the PLD technique.