Hydrogel nanocomposites have lately taken part in the biomaterials scenario for several applications in the biomedical field, e.g., drug delivery, biosensing and cancer therapy. The inclusion of a broad variety of nanomaterials inside the hydrogel matrix leads to the successful development of hybrid platforms with superior and advantageous features. In this way, finely designed nano‐systems can be obtained, which are able to overcome the intrinsic limitations of conventional hydrogels, such as weak mechanical properties, burst drug delivery, extremely high hydrophilicity and lack of multifunctionality. This review aims to outline the last advances in the manufacturing of nanocomposite systems and their novel applications to the biomedical field, providing an overview of the most used nanoparticles with a special focus on gold nanoparticles.