The exfoliation of graphene has opened a new frontier in material science with a focus on 2D materials. The unique thermal, physical and chemical properties of these materials have made them one of the choicest candidates in novel mechanical and nano-electronic devices. Notably, 2D materials such as graphene, MoS2, WS2, h-BN, and Black Phosphorus have shown outstanding lowest frictional coefficients and wear rates, making them attractive materials for high-performance nano-lubricants and lubricating applications. The objective of this work is to provide a comprehensive overview of the most recent developments in the tribological potentials of 2D materials. At first, the essential physical, wear, and frictional characteristics of the 2D materials including their production techniques are discussed. Subsequently, the experimental explorations and theoretical simulations of the most common 2D materials are reviewed in regards to their tribological applications such as their use as solid lubricants and surface lubricant nano-additives. The effects of micro/nano textures on friction behavior are also reviewed. Finally, the current challenges in tribological applications of 2D materials and their prospects are discussed.