Porous polymeric membranes have shown great potential in biological and biomedical applications such as tissue engineering, bioseparation, and biosensing, due to their structural flexibility, versatile surface chemistry, and biocompatibility. This review outlines the advantages and limitations of the fabrication techniques commonly used to produce porous polymeric membranes, with especial focus on those featuring nano/submicron scale pores, which include track etching, nanoimprinting, block-copolymer self-assembly, and electrospinning. Recent advances in membrane technology have been key to facilitate precise control of pore size, shape, density and surface properties. The review provides a critical overview of the main biological and biomedical applications of these porous polymeric membranes, especially focusing on drug delivery, tissue engineering, biosensing, and bioseparation. The effect of the membrane material and pore morphology on the role of the membranes for each specific application as well as the specific fabrication challenges, and future prospects of these membranes are thoroughly discussed.