Graphene and its derivatives have received considerable attention in industrial and academic research due to their unique, useful properties and applications. The use of graphene is still difficult due to its high cost of production. Hence, graphene nanoplatelets (GNPs) have been identified as a substitute for graphene, which are produced in large scale at a very low cost. Moreover, GNPs have played a significant role in various engineering thermoplastic materials [i.e., polyamides (PAs)] to enhance their properties and applications. The GNPs help in the production of low-cost multifunctional nanocomposites with notable useful properties such as high electrical conductivity, mechanical strength, and high aspect ratio. The GNPs based nanocomposites have a broad spectrum of application areas including 3D-printing, automotive materials, electrical appliances, low-cost composites films, and many more. This review summarizes different preparation techniques, properties, and applications of GNPs based PAs nanocomposites as reported in current literature.