Biomarker research helps validate diagnostic entities that are otherwise based on pure clinical sense and prone to subjectivity bias. Biomarker research in the field of schizophrenia and psychoses dates back to more than a century. However, the focus on 'translational' biomarkers in schizophrenia is a more recent one, dating to the turn of the last century. The translational biomarker research in schizophrenia encompasses diagnostic markers, endophenotypes, and theranostic markers. A prime objective of translational biomarkers in schizophrenia is to enhance the field of identification of high-risk states and prevent the onset of illness. The two-hit theory within the neurodevelopmental hypothesis that also takes into account the role of neuroinflammation has by far been the major contributor to the genesis of several translational biomarkers in schizophrenia. Several neurophysiological biomarkers have been identified based on the two-hit theory. Also, identification of electrophysiological biomarkers, specifically electroencephalographic (EEG), both resting state and task-driven, is more feasible in low-cost settings. Furthermore, proof-of-concept trials including the combined use of biomarkers and novel treatment strategies and the use of bioinformatics and computational intelligence for improving theranostics fall under the broad rubric of translational biomarker research in schizophrenia. This oration is a narrative review of various translational biomarkers in schizophrenia with a focus on neurodevelopmentally based cognitive-electrophysiological measures.