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This chapter describes the potential of multifunctional nanobiodevices in combination with quantum dots (QDs) to meet the requirements of diagnostic and theranostic systems. Nanobiodevices are primed to be powerful tools to provide the basis for the detection of small amounts of samples and simple operation. QDs can be utilized in these devices as bio-probes or labels for biological imaging of single molecules and cells. They have developed into new formats of biosensing to push the limits of detection. QDs has been also demonstrated to construct a multifunctional nanoplatform for stem cell transplantation and labeling with diagnostic and therapeutic modalities. The potential clinical applications of QDs have been expanded by the development of considerably low cytotoxicity QDs that do not include cadmium or selenium, as well as the development of longwave fluorescence QDs with strong permeability into the body. It provides the promising applications and further perspectives on future regenerative medicine.