AbstractConjugated polymer dots (Pdots, also named polymer nanoparticles, PNPs), which consist of π‐conjugated organic polymers, are novel organic nanomaterials with size in the range of 1–100 nm. Compared with traditional organic small molecules, semiconductor quantum dots and inorganic nanomaterials, the Pdots exhibit significant potential applications in biological imaging, sensing and detection, drug delivery and theranostics, due to their advantages of special optical properties, diverse structure, easy surface modification and good biocompatibility. In this short review, we present a brief summary of the current development in Pdots as phototheranostic agents, including fluorescence imaging, photoacoustic imaging, photodynamic therapy and photothermal therapy. Current challenges in Pdot research and future directions in the field are proposed.