Fluorescent labeling through bioconjugation is the preferred tool for the investigation of biological functions involving lipids, namely for clarifying metabolic pathways and molecular mechanisms of diseases. The lack of functionalized lipid probes with biological and physicochemical properties suitable for these studies is still a major limitation. Moreover, the synthesis of these probes is challenging and strongly dependent on the application envisioned. The objective of this Review is to highlight advances in the application of fluorescent glycerophospholipid probes through innovative approaches in the synthesis reported in the past decade. The reaction pathways, choice of fluorophore, and location of fluorophore in the glycerophospholipid structure are critically addressed. The relevance of these bioconjugates is exemplified with applications using advanced analysis by fluorescence enhancement or quenching to unravel biomembrane structure features and phospholipase activity. Finally, this Review reinforces the need for innovative and more efficient routes for the synthesis of tailored glycerophospholipids fluorescent conjugates.