Rapid developments in biotechnology, rDNA, and gene editing technologies have transformed both biomedical sciences and environmental biotechnology, especially genome editing, synthetic biology, and reproductive biotechnology, etc., and have revolutionized medicine, agriculture, and environmental sciences, etc. However, such biotechnologies also pose serious bioethical, biosafety, and biosecurity risks and challenges, etc. This review critically discusses and analyzes the current bioethical issues and dilemmas associated with biotechnologies such as CRISPR-Cas9, in vitro fertilization (IVF), cloning, xenotransplantation, PGD, transgenic organisms, etc. The study adopted a literature-based methodology to critically examine the current bioethical debates and discussions on biotechnologies, etc. The study findings revealed serious bioethical issues and dilemmas associated with biotechnologies, such as risk-benefit analysis, justice, human dignity, and eugenics, etc. This review also aims to incorporate Islamic bioethics, focusing on maqasid al-shariah, such as maintaining life, lineage, principle of necessity and dignity, etc. This study concluded that biotechnology has tremendous potential, and its use and development require global governance, ethical literacy, and culturally sensitive approaches, etc.