In this review, the EMI shielding properties of the various carbonaceous fillers are thoroughly reviewed. Electromagnetic interference (EMI) had been a cause of major concern in the live broadcasting, entertainment, aviation and defense industries since vital radio signals could create more interference, which could lead to poor performance. To reduce the effect of EMI, the organic polymeric composites along with the carbonaceous fillers are mostly used since they are flexible, low denser, high mechanical strength, high thermo-stability, high electrical and thermal conductivity, excellent fracture toughness, and high friction/wear resistance. There are lot of carbon based materials are being used as EMI shielding material in mono and compound form. This review gives a broad understanding of the utilization of carbonaceous fillers in polymer matrixes. Thus, the overall coverage on this carbon based materials and their effectiveness could help the researchers to find right carbon material for suitable application. According to this review, the absorption mechanism is vital to achieve high EMI shielding effect. The fillers such as graphene and CNTs are most preferable EMI shielding filler, according to the vast coverage of previous articles. However, there are more magnetoelectric materials also evolved recently, having combined properties of both conductive and magnetic, yielding high SE at elevated frequencies.