Polymers are widely used in many areas, but often their individual properties are not sufficient for use in certain applications. One of the solutions is the creation of polymer-based composites and nanocomposites. In such materials, in order to improve their properties, nanoscale particles (at least in one dimension) are dispersed in the polymer matrix. These properties include increased mechanical strength and durability, the ability to create a developed inner surface, adjustable thermal and electrical conductivity, and many others. The materials created can have a wide range of applications, such as biomimetic materials and technologies, smart materials, renewable energy sources, packaging, etc. This article reviews the usage of composites as a matrix for the optical sensors and biosensors. It highlights several methods that have been used to enhance performance and properties by optimizing the filler. It shows the main methods of combining indicator dyes with the material of the sensor matrix. Furthermore, the role of co-fillers or a hybrid filler in a polymer composite system is discussed, revealing the great potential and prospect of such matrixes in the field of fine properties tuning for advanced applications.