Living systems operate within physical constraints imposed by nonequilibrium thermodynamics. This review explores recent advancements in applying these principles to understand the fundamental limits of biological functions. We introduce the framework of stochastic thermodynamics and its recent developments, followed by its application to various biological systems. We emphasize the interconnectedness of kinetics and energetics within this framework, focusing on how network topology, kinetics, and energetics influence functions in thermodynamically consistent models. We discuss examples in the areas of molecular machine, error correction, biological sensing, and collective behaviors. This review aims to bridge physics and biology by fostering a quantitative understanding of biological functions.