The rich photophysical and photochemical properties of organometallic rhenium(I) and iridium(III) complexes have been well studied. The interesting luminescence behaviour has been exploited in various areas such as emissive supramolecular assemblies, photovoltaic cells, chemosensing, and light-emitting device fabrication. Recently, the applications of these luminescent complexes in biological studies have received much attention. Herein, we review luminescent organometallic rhenium(I) and iridium(III) complexes that have been employed as biological probes, with an emphasis on biological targets including DNA, proteins, and cellular components. In particular, the molecular structures, spectroscopic and photophysical properties of the complexes, emissive behaviour, and potential applications of the labelled bioconjugates are described.