Graphene, a monolayer sp 2 hybridized carbon atom, received worldwide attention due to its extraordinary physical, chemical, thermal, and electrical properties. In recent years, the development of nanoscale dispersion techniques using graphene particles in a polymer matrix has been crowned a new and interesting horizon in material science. Graphene-based polymer nanocomposites reveal superior mechanical and thermal properties compared with the conventional graphite-based composites or neat polymers which are obtained through very low filler loadings in the polymer matrix. Graphene derivatives as unique nanofillers are used in the production of lightweight, low cost, and high-performance polymer nanocomposites with a wide range of applications, such as fuel cells, supercapacitors, solar cells, sensors, and lightweight gasoline tanks. This chapter reviews the preparation methods of graphene-based polymer nanocomposites, their characteristics, and their wide range of potential applications in technological fields.