The utilization of polymer/metal organic framework (MOF) nanocomposites in various biomedical applications has been widely studied due to their unique properties that arise from MOFs or hybrid composite systems. This review focuses on the types of polymer/MOF nanocomposites used in drug delivery and imaging applications. Initially, a comprehensive introduction to the synthesis and structure of MOFs and bio-MOFs is presented. Subsequently, the properties and the performance of polymer/MOF nanocomposites used in these applications are examined, in relation to the approach applied for their synthesis: (i) non-covalent attachment, (ii) covalent attachment, (iii) polymer coordination to metal ions, (iv) MOF encapsulation in polymers, and (v) other strategies. A critical comparison and discussion of the effectiveness of polymer/MOF nanocomposites regarding their synthesis methods and their structural characteristics is presented.