Graphene due to its unique physicochemical properties mainly its large surface to volume ratio, excellent thermal and electrical conductivity, biocompatibility, as well as broad electrochemical potential, has received considerable attention for biosensing applications. In this review paper, we provide a comprehensive overview of the recent advances in the field of electrochemical biosensors developed using the graphene nanomaterial including graphene oxide, reduced graphene oxide, CVD graphene, and various graphene based nanostructures including nanomesh, nanowalls, etc. in healthcare related applications. The review focusses on material synthesis, device fabrication, and biofunctionalization of graphene electrodes in biosensing such as those based on electrochemical impedance, amperometry/voltammetry, potentiometry, conductometry, and field effect transistor. Additionally, several ingenious biosensing strategies of graphene biosensor in clinical diagnosis for detection of proteins (disease biomarkers), nucleic acids (mutation analysis in genetic diseases), small molecules (disease metabolites like glucose, lactic acid etc.), and pathogens (bacterial and viral infections) have also been discussed. © 2017 Materials Research Society.