Graphene composites with metal or metal oxide nanoparticles have been extensively investigated owing to their potential applications in the fields of fuel cells, batteries, sensing, solar cells, and catalysis. Among them, much research has focused on supercapacitor applications and have come close to realization. Composites include monometal oxides of cobalt, nickel, manganese, and iron, as well as their binary and ternary oxides. In addition, their morphological control and hybrid systems of carbon nanotubes have also been investigated. This review presents the current trends in research on metal oxide/graphene composites for supercapacitors. Furthermore, methods are suggested to improve the properties of electrochemical capacitor electrodes.