Cultural heritage faces recurring degradation processes and natural aging phenomena, demanding the envisioning of innovative preservation solutions inspired by cutting‐edge scientific research. Over extended time frames, current preservation strategies often prove inadequate in preserving the different constituent materials of cultural assets, which are thus threatened by their inherent fragility and by the complex interactions with the surrounding environment. The distinctive properties of graphene and graphene‐related materials (GRMs) now offer unexplored opportunities in the field of cultural heritage, addressing various forms of deterioration phenomena. This work critically analyzes early‐stage literature on the use of graphene and GRMs. Strengths, weaknesses, and limitations in anti‐corrosion, anti‐fading, and consolidation properties of graphene and GRMs are thoroughly investigated, along with their possible applications in smart sensors to monitor the state of health of endangered artifacts. The aim is to elucidate how specific characteristics of graphene and GRMs can be applied to the conservation, diagnostics, and monitoring of artistic and archaeological assets. Future perspectives in the design of stable, long‐lasting, and compatible graphene‐based solutions for cultural heritage protection are highlighted, providing a detailed discussion on potentials and pitfalls.