In this article, the vibrational behavior of conical panels in the nonlinear regime made of functionally graded graphene platelet–reinforced composite having a hole with various shapes is investigated in the context of higher-order shear deformation theory. To achieve this aim, a numerical approach is used based on the variational differential quadrature and finite element methods. The geometrical nonlinearity is captured using the von Karman hypothesis. Also, the modified Halpin–Tsai model and rule of mixture are applied to calculate the material properties of graphene platelet–reinforced composite for various functionally graded distribution patterns of graphene platelets. The governing equations are derived by a variational approach and represented in matrix-vector form for the computational purposes. Moreover, attributable to using higher-order shear deformation theory, a mixed formulation approach is presented to consider the continuity of first-order derivatives on the common boundaries of elements. In the numerical results, the nonlinear free vibration behaviors of functionally graded graphene platelet–reinforced composite conical panels including square/circular/elliptical hole and with crack are studied. The effects of boundary conditions, graphene platelet reinforcement, and other important parameters on the vibrational response of panels are comprehensively analyzed.