A diversity of chemicals is used to produce fire retardants (FRs); some of the main group of chemicals are hazardous to the environment as well as to human life; however, expandable graphite (EG) can be a gateway to a more environmentally friendly FRs or intumescent fire retardants (IFRs). Researchers define intumescent as the swelling of a particular substance placed between a heat source and an underlying substrate when they are heated. EG is a material with extraordinary thermophysical and mechanical properties. The referred EG properties are unparalleled. EG is a low-density carbon material having a series of unique properties: developed specific surface, binder-free pressing capacity, stability to aggressive media, and low thermal conductivity. Therefore, EG is a promising material both for research work and for industrial applications. The primary goal of this literature review was to report current knowledge on the use of EG as a fire retardant for cellulose and cellulose-modified materials. EG is produced, among other methods, by thermal shock of graphite oxide under forming gas. When exposed to heat, EG will expand. The expansion mechanism was presented in this review. Equally important to this review is the knowledge related to cellulose thermal degradation and cellulose impact on the development of science and technology.