Graphene-based nanohybrid is considered to be the most promising nanomaterial for electrochemical sensing applications due to the defects created on the graphene oxide layers. These defects provide graphene oxide unique properties, such as excellent conductivity, large specific surface area, and electrocatalytic activity. These unique properties encourage scientists to develop novel graphene-based nanohybrids and improve the sensing efficiency. This review, therefore, addresses this topic by comprehensively discussing the strategies to fabricate novel graphene based nanohybrids with high sensitivity. The combinations of graphene with various nanomaterials, such as metal nanoclusters, metal compound nanoparticles, carbon materials, polymers and peptides, in the direction of electrochemical sensing, were systematically analyzed. Meanwhile, the challenges in the functional design and application of graphene-based nanohybrids were described and the reasonable solutions were proposed.