In this paper, we review recent research articles on liquid-phase microextraction of drug substances from biological fluids, such as plasma, serum, urine, and saliva. We focus on papers where liquid-phase microextraction is combined with liquid chromatography coupled with mass spectrometry (LC–MS), published in the period 2019−2020. First, we discuss different configurations of liquid-phase microextraction, including dispersive liquid-liquid microextraction (DLLME), dispersive liquid-liquid microextraction based on solidified floating organic droplet (DLLME-SFO), single-drop microextraction (SDME), hollow-fibre liquid-phase microextraction (HF-LPME), solvent bar microextraction (SBME), and electromembrane extraction (EME). Second, we discuss new types of solvents used in liquid-phase microextraction, including ionic liquids, deep eutectic solvents, and nanostructured supramolecular solvents. Especially, we focus on the potential for implementation in routine laboratories, which we consider as the next step for liquid-phase microextraction.