Point‐of‐care (PoC) biosensors offer promising solutions to today's adverse and costly healthcare issues by moving diagnostic tools closer to the patient. The ubiquity of smartphones has brought about an emergence of PoC devices, which leverage the smartphone's capabilities, enabling the creation of low‐cost and portable biosensors. Electrochemical biosensors are well suited for PoC testing since the transducers can be miniaturized and inexpensively fabricated. This review paper discusses recent developments in smartphone‐based electrochemical biosensors for PoC diagnostics. These peripherals utilize the various connectivity options (for example proprietary ports, audio headphone‐jack, or wireless radio) to offload functionality to the smartphone. The smartphone‐based implementations of various electrochemical techniques, such as amperometry, potentiometry, and impedance spectroscopy are explored. Major challenges include reducing power, area, and cost of measurement circuitry, while maintaining adequate performance for PoC diagnostic applications.