One area of interest in nanotechnology, particularly in nanobiotechnology, is the study of optical and electrical phenomena related to nanometer-scale semiconductors. Quantum dots (QDs) are semiconductor nanocrystals whose electrons and holes are quantum-confined in all three spatial dimensions. QDs’ unique optical features make them suitable for use as optical probes or as optically trackable biomolecule carriers for in vitro and in vivo research in biological applications. QDs can be used to target specific areas in vitro and in vivo by conjugating relevant functional biomolecules onto their surfaces. This chapter comprehensively describes the different aspects of QDs’ applications in the field of biomedical diagnosis.