Graphene is fundamentally a two-dimensional material with extraordinary optical, thermal, mechanical, and electrical characteristics. It has a versatile surface chemistry and large surface area. It is a carbon nanomaterial, which comprises sp2 hybridized carbon atoms placed in a hexagonal lattice with one-atom thickness, giving it a two-dimensional structure. A large number of synthesis techniques including epitaxial growth, liquid phase exfoliation, electrochemical exfoliation, mechanical exfoliation, and chemical vapor deposition are used for the synthesis of graphene. Graphene prepared using different techniques can have a number of benefits and deficiencies depending on its application. This study provides a summary of graphene preparation techniques and critically assesses the use of graphene, its derivates, and composites in environmental applications. These applications include the use of graphene as membrane material for the detoxication and purification of water, active material for gas sensing, heavy metal ions detection, and CO2 conversion. Furthermore, a trend analysis of both synthesis techniques and environmental applications of graphene has been performed by extracting and analyzing Scopus data from the past ten years. Finally, conclusions and outlook are provided to address the residual challenges related to the synthesis of the material and its use for environmental applications.