Prostate cancer (PC) is the second most diagnosed cancer among men [
1] It was observed that early diagnosis of disease is highly beneficial for survival of cancer patients [
2,
3]. Therefore, extension and increasing quality of life of PC patients can be achieved by broadening the Cancer Screening programs that are aimed at the identification of cancer manifestation in patients at earlier stages, before they demonstrate well-understood signs of the disease[
2,
3,
4,
5,
6,
7]. Significant social impact and economical effect of PC screening was estimated taking into consideration that the cost for treating the advanced disease is much higher than the scanning cost [
8]. Therefore, there is an urgent need in standard, sensitive, robust, and commonly available screening tools for identification of early signs of cancer pathologies [
9]. In this respect, “Holy Grail” of cancer researchers and bioengineers for decades have been molecular sensing probes that would allow diagnosis, prognosis and monitoring of cancer diseases by their interaction with tumor-associated cancer cells and/or blood-solubilized PC biomarkers, such as PSA, PCA3, sarcosine oxidase andothers [
2,
10,
11,
12,
13,
14,
15,
16,
17]. At present, most PSA tests are performed at centralized laboratories using high throughput Total PSA immune analyzers. There are clear practical advantages of using these fully automated analyzers, including lower detection limits and high throughput of samples. Meantime, several authors noted a persistent disagreement among PSA results obtained by different commercial immunoassays [
18,
19,
22]. This serious drawback of the PSA immunoanalizers can be attributed to the use of capture and tracer antibodies with different epitope specificities and affinities [
20] Furthermore, , the important limitation of the PSA analyzers is that they are suitable for dedicated laboratories and are not readily available for the broad health care community[
19]. Therefore, the emerging trend in screening and detection of PC is using the portable biosensors for mobile laboratories and individual use [
14,
17,
21,
22,
23]. Phage display since its conception by George Smith in 1985 has emerged as a premier tool in molecular biology with widespread applications. This review describes how the paradigm of molecular evolution and phage display revolutionized the methods of early diagnosis and monitoring of PC.