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Ferrite magnetic nanoparticles (FMNPs) are gaining popularity to design biosensors for high-performance clinical diagnosis. The fusion of information shows that FMNPs based biosensors require well-tuned FMNPs as detection probes to produce large and specific biological signals with minimal non-specific binding. Nevertheless, there is a noticeable lacuna of information to solve the issues related to suitable synthesis route, particle size reduction, functionalization, sensitivity towards targeted intercellular biological tiny particles, and lower signal-to-noise ratio. Therefore it allows exploring unique characteristics of FMNPs to design a suitable sensing device for intracellular measurements and diseases detection. This review focuses on the extensively used synthesis routes, their advantages and limitations, crystalline structure, functionalization, along with recent applications of FMNPs in biosensors, taking into consideration their analytical figures of merit and range of linearity. This work also addresses the current progress, key factors for sensitivity, selectivity and productivity improvement along with the challenges, future trends and perspectives of FMNPs based biosensors., Competing Interests: Declaration of Competing Interest The authors declare no conflict of interest., (Copyright © 2021 Elsevier B.V. All rights reserved.)