Thermal management in microelectronic devices has become a crucial issue as the devices are more and more integrated into micro-devices. Recently, free-standing graphene films (GFs) with outstanding thermal conductivity, superb mechanical strength, and low bulk density, have been regarded as promising materials for heat dissipation and for use as thermal interfacial materials in microelectronic devices. Recent studies on free-standing GFs obtained via various approaches are reviewed here. Special attention is paid to their synthesis method, thermal conductivity, and potential applications. In addition, the most important factors that affect the thermal conductivity are outlined and discussed. The scope is to provide a clear overview that researchers can adopt when fabricating GFs with improved thermal conductivity and a large area for industrial applications.