Currently, cancer poses a significant global health challenge. The precise identification and management of this disease are crucial for mitigating its progression and enhancing patient survival. Numerous theranostic agents that integrate diagnostic and therapeutic functions have emerged as vital tools in the realm of precision oncology. Notably, fluorescent theranostic probes have gained prominence in cutting-edge medical research, owing to their capacity for real-time monitoring, minimal toxicity, and superior imaging quality. These probes typically consist of a fluorescent molecule coupled with a latent therapeutic agent, which is activated by specific triggers, either internal or external. Upon activation, the release of the drug is indicated by a visible fluorescence. Crucially, the selection of suitable fluorophores allows for the tracking of drug distribution over time and space, and supports applications in photodynamic and photothermal therapies. This chapter will delve into recent advancements in fluorescent theranostic probes, with a special emphasis on those designed to respond to the unique conditions of the tumor microenvironment.