Graphene has excellent unique thermal, chemical, optical, and mechanical properties such as high thermal conductivity, high chemical stability, optical transmittance, high current density, higher surface area, etc. Due to their outstanding properties, the attention towards graphene-based materials and their derivatives in wastewater treatment has been increased in recent times. Different graphene-based materials such as graphene oxides, graphene quantum dots, graphene nanoplatelets, graphene nanoribbons and other graphene-based nanocomposites are synthesized through chemical vapor deposition, mechanical and electrochemical exfoliation of graphite. In this review, the specifics about the graphenes and their derivatives, the synthesis strategy of graphene-based materials are described. This review critically explained the applications of graphene-based materials in wastewater treatment. Graphene-based materials were utilized as adsorbents, electrodes, and photocatalysts for the efficient removal of toxic pollutants such as heavy metals, dyes, pharmaceutics, antibiotics, phenols, polycyclic aromatic hydrocarbons have been highlighted and discussed. Herein, the potential scope of graphene-based material in the field of wastewater treatment is critically reviewed. In addition, a brief perspective on future research directions and difficulties in the synthesis of graphene-based material are summarized.