In the last three decades, a lot of scientific research has been carried out in the field of Carbon nanomaterials all over the world due to their significant electronic, optical, mechanical, chemical and thermal properties. The zero, one, two and three dimensional Carbon nanomaterials (i.e. fullerenes, Carbon nanotubes, Graphene, Carbon quantum dots, Carbon Nanohorns, Nanodiamonds, Carbon Nanofibres and Carbon black) have exhibited such inherent features that can be easily exploited in the development of advanced technology for sensing applications. The employment of nanomaterials within sensors has paved new way and opportunities for the detection of analytes or target molecules. Carbon nanomaterials based electrochemical biosensors have reported biocompatibility, better sensitivity, better selectivity and lower limits of detection to detect a wide range of chemical to biological molecules. In this paper, a comprehensive review has been made to cover recent developments in the field of Carbon based nanomaterials as electrochemical biosensors. The characteristic features of a variety of nanomaterials like fullerenes, Carbon nanotubes, Graphene, Carbon quantum dots, Carbon Nanohorns, Carbon Nanodiamonds, Carbon Nanofibres, Carbon black etc. have been discussed along with their synthesis methods. The recent application of all these nanomaterials as electrochemical biosensors for the detection of various biomolecules have been highlighted; the future prospects and possibilities in this field have been outlined.