This chapter reviews recent advances in the field of biocatalytic synthesis of water-soluble conducting polymers. Biocatalysis is proposed as a versatile tool for synthesis of conducting polymers. First, the enzymatic synthesis of conducting polymers and its mechanism is discussed as well as the use of different type of enzymes. Next, we describe the use of a new bifunctional template (sodium dodecyl diphenyloxide disulfonate) in the synthesis of polyaniline as a strategy to improve the water solubility and electrical conductivity in the obtained polymer. The recent development of enzyme-catalyzed polymerization of 3,4-ethylenedioxythiophene (EDOT) in the presence of polystyrenesulfonate is discussed. This method results in PEDOT materials that show an electrical conductivity of 2 × 10 −3 S cm −1 and posses excellent film formation ability, as confirmed by atomic force microscopy images. Finally, a simple method for immobilizing horseradish peroxidases in the biocatalytic synthesis of water-soluble conducting polymers is presented. This method is based on a biphasic catalytic system in which the enzyme is encapsulated inside the ionic liquid 1-butyl-3-methylimidazolium hexafluorophosphate, while other components remain in the aqueous phase. The enzyme is easily recovered after reaction and can be reused several times.