The fields of biosensing have been transformed by the discovery of extraordinary molecular recognition components, such as aptamers and biomimetic receptors. Systematic Evolution of Ligands by Exponential Enrichment (SELEX) is a method used to select aptamers, or short sequences of single-stranded DNA (ssDNA) or RNA (ssRNA), based on their unique binding affinity to target molecules. Molecularly imprinted polymers (MIPs) are a type of biomimetic receptor that mimics the selectivity of natural receptors inside a synthetic matrix. They make it possible to identify pathogens, and illness biomarkers with accuracy. Aptamers and biomimetic receptors play crucial roles in various fields including diagnostics, therapeutics, and biosensing. Their high specificity, versatility, and adaptability enable targeted detection, drug delivery, and biomolecule manipulation, thereby contributing to advancements in personalized medicine, biotechnology, and disease diagnosis. Aptamers and biomimetic receptors have been combined with cutting-edge technologies, like nanotechnology and lab-on-a-chip systems, to create biosensors that are quick, portable, and extremely sensitive. These recognition features are anticipated to become more important as technology develops, helping to address global issues, advance biosensing capabilities, and raise people's standard of living everywhere. Recent advancements and innovation on Aptamers and Biomimetic Receptors in Biosensing have been discussed in this review article.