In this critical review we discuss the most recent advances in the field of biosensing applications of magnetic glyconanoparticles. We first give an overview of the main synthetic routes to obtain magnetic-nanoparticle-carbohydrate conjugates and then we highlight their most promising applications for magnetic relaxation switching sensing, cell and pathogen detection, cell targeting and magnetic resonance imaging. We end with a critical perspective of the field, identifying the main challenges to be overcome, but also the areas where the most promising developments are likely to happen in the coming decades.