This paper introduces a novel device called the gate all around engineered gallium nitride field effect transistor (GAAE-GANFET), designed specifically for label-free biosensing applications. This innovative gate-all-around engineering in GANFET integrates various device engineering techniques, such as channel engineering, gate engineering, and oxide engineering, to enhance biosensing performance. The channel engineering techniques refer to the use of a gallium nitride channel with a step-graded doping profile, divided into three distinct regions. In contrast, the gate engineering technique refers to the cylindrical split-gate-underlap architecture. The oxide engineering technique involves stacking Al2O3 and HfO2. Moreover, this biosensor incorporates two-sided gate underlap cavities that facilitate the immobilization of biomolecules. These open cavities not only provide structural stability but also simplify the fabrication process to a significant extent. The viability of this biosensor as a label-free biosensor has been evaluated using an antigen and an antibody from the Avian Influenza virus and DNA as the target biomolecules. The proposed analytical model and TCAD simulation results are in excellent agreement, demonstrating the reliability of the proposed device. Additionally, the biosensor's sensitivity, which depends on cavity length, doping concentration, gate metal work function, and temperature variation, has been thoroughly explored.