Recently, there have been enormous efforts to tailor the properties of graphene.These improved properties extend the prospect of graphene for a broad range of applications. Plasmas find applications in various fields including materials science and have been emerging in the field of nanotechnology. This review focuses on different plasma functionalization processes of graphene and its oxide counterpart. The review aims at the advantages of plasma functionalization over the conventional doping techniques. Selectivity and controllability of the plasma techniques opens up future pathways for large scale, rapid functionalization of graphene for advanced applications. We also emphasize on atmospheric pressure plasma jet as the future prospect of plasma based functionalization processes.