Nanostructured and chemically modified graphene-based nanomaterials possess intriguing properties for their incorporation as an active component in a wide spectrum of optoelectronic architectures. From a technological point of view, this aspect brings many new opportunities to the now well-known atomically thin carbon sheet, multiplying its application areas beyond transparent electrodes. This article gives an overview of fundamental concepts, theoretical backgrounds, design principles, technological implications, and recent advances in semiconductor devices that integrate nanostructured graphene materials into their active region. Starting from the unique electronic nature of graphene, a physical understanding of finite-size effects, non-idealities, and functionalizing mechanisms is established. This is followed by the conceptualization of hybridized films, addressing how the insertion of graphene can modulate or improve material properties. Importantly, it provides general guidelines for designing new materials and devices with specific characteristics. Next, a number of notable devices found in the literature are highlighted. It provides practical information on material preparation, device fabrication, and optimization for high-performance optoelectronics with a graphene hybrid channel. Finally, concluding remarks are made with the summary of the current status, scientific issues, and meaningful approaches to realizing next-generation technologies.