The past decade has witnessed extensive research in the field of biosensors, where nanoaptasensors achieved widespread interest. Aptamer, the single-stranded DNA or RNA nucleotide, is extensively employed as a bioreceptor due to its stability, ease in a modification that ensures convenient immobilization strategies, reducing the cost of sensor manufacturing. The detection limit and sensitivity were notably improved when modified with nanomaterials such as metal nanoparticles, carbon nanomaterials, graphene, quantum dots, and other nanocomposites. This paper introduces various design strategies for the fabrication of sensors utilizing aptamers and nanomaterials in-developing signal-readout mechanism, focusing mainly on the latest research in food, biomedical and environmental applications. Aptasensors that utilize various signal recognition methods such as electrochemistry, colorimetry, luminescence, and fluorescence are highlighted. This review offers a wide range of outlook for future developments of aptamer bioreceptors employing the unique physicochemical nanomaterials as efficient transducers and amplifiers. Furthermore, this review will also provide an insight into aptamer-aided biosensors’ technology over the last three to five years of work.