The last decade has been incredibly fruitful in proving the multifunctionality of paper for delivering innovative electrochemical (bio)sensors. The paper material exhibits unprecedented versatility to deal with complex liquid matrices and facilitate analytical detection in aerosol and solid phases. Such remarkable capabilities are feasible by exploiting the intrinsic features of paper, including porosity, capillary forces, and its easy modification, which allow for the fine designing of a paper device. In this review, we shed light on the most relevant paper-based electrochemical (bio)sensors published in the literature so far to identify the smart functional roles that paper can play to bridge the gap between academic research and real-world applications in the biomedical, environmental, agrifood, and security fields. Our analysis aims to highlight how paper's multifarious properties can be artfully harnessed for breaking the boundaries of the most classical applications of electrochemical (bio)sensors.