Since the introduction of optical fiber technology in the field of sensor based on the technique of surface plasmon resonance (SPR), fiber-optic SPR sensors have witnessed a lot of advancements. This paper reports on the past, present, and future scope of fiber-optic SPR sensors in the field of sensing of different chemical, physical, and biochemical parameters. A detailed mechanism of the SPR technique for sensing purposes has been discussed. Different new techniques and models in this area that have been introduced are discussed in quite a detail. We have tried to put the different advancements in the order of their chronological evolution. The content of the review article may be of great importance for the research community who are to take the field of fiber-optic SPR sensors as its research endeavors.