Many materials and additives perform well as fire retardants and suppressants, but there is an ever-growing list of unfulfilled demands requiring new developments. This work explores the outstanding dispersant and adhesive performances of cellulose to create a new effective fire-retardant: exfoliated and reassembled graphite (ERG). This is a new 2D polyfunctional material formed by drying aqueous dispersions of graphite and cellulose on wood, canvas, and other lignocellulosic materials, thus producing adherent layers that reduce the damage caused by a flame to the substrates. Visual observation, thermal images and surface temperature measurements reveal fast heat transfer away from the flamed spots, suppressing flare formation. Pinewood coated with ERG underwent standard flame resistance tests in an accredited laboratory, reaching the highest possible class for combustible substrates. The fire-retardant performance of ERG derives from its thermal stability in air and from its ability to transfer heat to the environment, by conduction and radiation. This new material may thus lead a new class of flame-retardant coatings based on a hitherto unexplored mechanism for fire retardation and showing several technical advantages: the precursor dispersions are water-based, the raw materials used are commodities, and the production process can be performed on commonly used equipment with minimal waste.