Graphene is considered as a competitive material for the development of photo-and electrodevices because of its superior electrical and optical properties. Meanwhile, laser processing technologies with high precision, fast reaction speed, and high maneuverability are widely used for the fast and facile fabrication of functionalized graphene and relevant devices. In particular, it enables desired performance tuning, programmable structural designing, micro-or nanoscale processing, and large-scale integration for advanced graphene-based photo-and electro-related devices, which has greatly promoted the development of multiscale and multidimensional device manufacturing technology. In this review, the interaction principle and processing strategies of functional graphene prepared and treated by laser, especially for the regulation of optical and electrical properties, will be fully understood and introduced. The latest progress and reports of advanced photoelectro devices, including electric energy storage devices, generators, sensors, actuators, photo detectors, photothermal devices, and photovoltaic devices, are classified and summarized. In general, this review may provide positive and meaningful guidance for flourishing graphene-based photo-and electroindustries.