Graphene, graphene oxide, reduced graphene oxide and their composites with various compounds/materials have high potential for substantial impact as cheap photocatalysts, which is essential to meet the demands of global activity, offering the advantage of utilizing “green” solar energy. Accordingly, graphene-based materials might help to reduce reliance on fossil fuel supplies and facile remediation routes to achieve clean environment and pure water. This review presents recent developments of graphene-based semiconductor photocatalysts, including novel composites with faceted particles, photonic crystals, and nanotubes/nanowires, where the enhancement of activity mechanism is associated with a synergistic effect resulting from the presence of graphene structure. Moreover, antimicrobial potential (highly needed these days), and facile recovery/reuse of photocatalysts by magnetic field have been addresses as very important issue for future commercialization. It is believed that graphene materials should be available soon in the market, especially because of constantly decreasing prices of graphene, vis response, excellent charge transfer ability, and thus high and broad photocatalytic activity against both organic pollutants and microorganisms.