Poly (methyl methacrylate) (PMMA)-Reduced Graphene Oxide (rGO) (PrGO) composite films were fabricated by solvent evaporation technique and exposed to gamma radiation at different dosages viz. 25 kGy, 50 kGy and 100 kGy. The XRD analysis revealed the phases of PMMA and rGO and further confirmed the semi-crystalline nature of PMMA. The irradiation also decreased the peak intensities of the functional groups of PMMA and rGO. At 50 kGy irradiation, lamellar structures were formed on the surface of the films (50 kGy) due to the thermal fluctuations whereas, at higher dosage (100 kGy), pores were formed. The surface roughness and contact angle were enhanced on 50 kGy sample. The drug impregnated PrGO50 and PrGO100 samples showed sustained and burst release of drug respectively and in addition exhibited a better zone of inhibition against E. coli bacteria. All the samples were hemocompatible in nature. Fibroblast proliferation was enhanced with no cytotoxic effect on 50 kGy samples. Hence, the gamma irradiated samples could be an excellent candidate for biosensing and biomedical applications.