Flexible energy storage systems have substantial inherent advantages in comparison with many currently employed systems due to improved versatility, performance and potentially lower cost. The research within this field is currently undergoing tremendous developments as new materials, composites and large-scale assembly strategies are being developed. In this review, we summarize recent progresses toward the development of flexible electrodes based on carbonaceous nanomaterials with particular emphasis on rational electrode design. Strategies to assemble flexible electrodes, both with and without inert mechanical supports, are reviewed and compared. Depending on their composition, the flexible electrodes can be used in important energy storage systems including supercapacitors and lithium ion batteries. The trend on future developments is also analyzed.