<p>With the development of the commercialization of genetically modified (GM) products, protecting consumers' right to know has become increasingly important. Efficient and rapid detection of GM products is crucial. Currently, conventional detection methods for GM products, such as enzyme-linked immunosorbent assay (ELISA), polymerase chain reaction (PCR), and quantitative real-time PCR (qPCR), are limited in rapid detection due to the need for complex instruments and professional operations. With the continuous development of biosensors, lateral flow biosensors (LFBs) have become a common tool for rapid GM product detection. They offer advantages such as simple operation, fast results, low cost, and convenient carrying and storage, making them a research hotspot in rapid GM product detection. This paper introduces the principles of LFBs, including their fundamental structure, identification system, detection principles, and signal components. Subsequently, we describe protein-based LFBs and nucleic acid-based LFBs separately, summarizing and reviewing the characteristics, advantages, and disadvantages of existing GM detection LFBs in this field. Additionally, the article proposes the use of advanced technologies currently available for GM-LFBs, providing a reference for developing rapid detection methods for GM products using LFBs.</p>