Near-infrared (NIR) optical imaging is a non-invasive and non-ionizing modality that is emerging as a diagnostic/prognostic tool for breast cancer and other applications related to functional brain mapping. In recent years, hand-held based optical imaging devices are developed for clinical translation of the technology, as opposed to the various bulky optical imagers available. Herein, we review the different hand-held based NIR devices developed to date, in terms of the measurement techniques implemented (continuous wave, time or frequency-domain), the imaging methods used, and the specific applications towards which they were applied. The advantages and disadvantages of the different hand-held optical devices are described and also compared with respect to a novel hand-held based device currently developed in our Optical Imaging Laboratory towards three-dimensional tomography studies.