Iron(III) oxide (Fe 2 O 3 ) has attracted great attention, owing to its abundant natural resources, environmental friendliness, and low cost. Nevertheless, this material possesses an inferior rate capability and a cycle stability that is similar to most transition metal oxides. Graphene, with a one-atom-thick 2D structure, possesses superior mechanical properties, electrical conductivity, and stability, and excellent electrical and electrochemical behaviors. The hierarchical structure of graphene/Fe 2 O 3 composites provides a porous conductive network, close contact between the graphene and Fe 2 O 3 , a stress buffer space for charge transport, and superior structural stability. This composite consists of high conductivity graphene with interconnected Fe 2 O 3 , thus exposing abundant active sites for redox reactions and providing sufficient contacts with the electrolyte. Consequently, materials composed of Fe 2 O 3 and graphene have been widely explored, owing to their outstanding synergistic effects. Graphene can effectively limit the volume expansion and agglomeration of Fe 2 O 3 , whereas Fe 2 O 3 can prevent the restacking of graphene at the same time. This article mainly discusses the preparation of Fe 2 O 3 /graphene materials and their applications, including supercapacitors, rechargeable batteries, catalysis, and so forth. In addition, the perspectives and challenges of Fe 2 O 3 /graphene materials for different applications are also discussed.