In this review, we focus on the very recent progresses on the use of stimuli responsive property of the polymer hydrogels for targeted drug delivery, tissue engineering, biosensing utilizing their different optoelectronic properties. Besides, the stimuli-responsive hydrogels, the conducting polymer hydrogels are discussed giving specific attention to the energy generation and storage behaviour of the xerogel derived from the hydrogel. The electronic and ionic conducting gels have been discussed conferring their applications at various electronic devices eg. organic field effect transistor, soft robotic, ionic skin, sensor etc. The properties of polymer hybrid gels containing carbon nanomaterials have been embodied here giving attention to applications in supercapacitor, dye sensitized solar cell, photocurrent switching etc. Recent trends in the properties and applications of some natural polymer gels to produce thermal and acoustic insulating materials, drug delivery vehicles, self-healing material, tissue engineering etc are discussed. Besides the polymer gels, the peptide gels of different dipeptide, tripeptide, oligopeptides, polypeptides, cyclic peptides etc. are discussed giving attention mainly to biosensing, bioimaging and drug delivery applications. The properties of peptide based hybrid hydrogels with polymers, nanoparticles, nucleotides, fullerene etc are embodied giving specific attention to the drug delivery, cell culture, bio-sensing, and bioimaging properties. So the present review delineates in short, the preparation, properties and applications of different polymer and peptide hydrogels engrossed in past few years.