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A bispecific monoclonal antibody is an artificial protein that can simultaneously bind to two different types of antigen or two different epitopes on the same antigen. Naturally occurring antibodies typically only target one antigen. Upon development, BsAbs can be manufactured in several structural formats. Through different mechanism of action, BsAbs can be designed to recruit and activate immune cells, to interfere with receptor signaling and inactivate signaling ligands, and to force association of protein complexes. BsAbs have advantages compared to ordinary monoclonal antibodies, while BsAbs have problems and disadvantages. The applications of BsAbs have been explored for cancer immunotherapy and drug delivery, while BsAbs can also be applied to treat other diseases, including Alzeimer's disease and so on.