Palladium nanoparticles (PdNPs) have intrinsic features, such as brilliant catalytic, electronic, physical, mechanical, and optical properties, as well as diversity in shape and size. The initial researches proved that PdNPs have impressive potential for the development of novel photothermal agents, photoacoustic agents, antimicrobial/antitumor agents, gene/drug carriers, prodrug activators, and biosensors. However, very few studies have taken the benefit of the unique characteristics of PdNPs for applications in the biomedical field in comparison with other metals like gold, silver, or iron. Thus, this review aims to highlight the potential applications in the biomedical field of PdNPs. From that, the review provides the perceptual vision for the future development of PdNPs in this field.