Exosomes are a subset of extracellular vesicles released from various cells, and they can be found in different bodily fluids. Exosomes have been utilized as biomarkers to diagnose many diseases and to monitor therapy efficiency as they represent the status and origin of the cell, which they are released from. Considering that they co-exist in bodily fluids with other types of particles, their isolation still remains challenging since conventional methods are time-consuming, user-dependent, and result in low isolation yield. This review summarizes the conventional strategies and microfluidic-based methods for exosome isolation along with their strengths and limitations. In particular, microfluidic devices emerge as a promising approach to tackle the existing limitations of conventional methods, and they provide unique features, such as operating with minute volume of samples and rapid process, in order to isolate exosomes with the high yield and the high purity, which make them unprecedented tools for molecular biology and clinical applications in exosome research. This review further elaborates on the existing microfluidic-based exosome isolation methods and denotes their benefits and drawbacks. Herein, we also introduce various commercially available platforms and kits for exosome isolation along with their working principles.