Neuroprosthetics, with a range of applications such as cognitive, auditory, pain relief, recording, motor, and visual prosthetics have emerged as a promising field in recent years. However, poor electrical conductivity, a high disparity between tissue and interfaces and the onset of reactive gliosis post-implantation remains major challenges in the development of neuroprostheses. The choice of biomaterials in designing the neural interfaces’ in neuroprosthetic applications is of high importance, as the overall sustained performance of neuroprosthetic devices is based on the features of materials used for the neural interfaces. Numerous biomaterials, such as metals and carbon-based materials, have been used in neuroprosthetics thus far. Nonetheless, neuroprosthetics made from polymeric biomaterials are in high demand due to their high biocompatibility, conductivity, and biostability. Furthermore, polymeric biomaterials can be used as a hybrid design to overcome the limitations of other co-biomaterials. This article makes an attempt to review the polymeric biomaterials involved in this cutting-edge technology utilized for different purposes such as substrates, coatings, and miniaturization of electrodes, that might help in enriching our understanding on neuroprosthetics.