Cancer is a malignant disease of increasing concern on account of its high heterogeneity, high mortality and morbidity rates, as well as absence of targeted and effective therapeutic regimes. The recent introduction of biomimetic and nature-inspired principles in the development of nanosystems has significantly impacted cancer therapies and diagnosis. Biomembrane-surface engineered nanosystems are bioinspired nanoconstructions equipped with cell-mimicking features to improve in vivo interactions with surrounding biological environments and cells. These next-generation nanosized delivery systems can enhance therapeutic efficacy and safety of conventional cancer therapies by providing highly specific, targeted, and safer nanomedicines. Herein, we have discussed the unique features of cell membrane-coated biomimetic nanodevices (including superior biocompatibility, immune evasion and tissue-homing features) that allow for promising osteosarcoma-targeted diagnosis, therapy, and theranostics. We also summarized the recent advances on cell membrane- and hybrid cell membrane-coated nanosystems for both primary bone cancer and metastatic scenarios, especially prostate cancer-derived bone metastases. Future perspectives and challenges towards successful clinical translation are also highlighted.