Graphene, a material composed of one-atom-thick planar sheets of sp2-bonded carbon atoms with a two-dimensional honeycomb structure, has been proposed for many applications due to its remarkable electronic, optical, thermal, and mechanical properties. Its high transparency, conductivity, flexibility, and abundance make it an excellent material to be applied in the field of organic photovoltaic cells, especially as a replacement for transparent conducting oxide electrodes. However, graphene has been demonstrated to be useful not only as substitute for indium tin oxide electrodes, but also as cathode, electron acceptor, hole transport, and electron extraction material. Thus, in this work, we summarize and discuss the efficiency of bulk heterojunction devices using graphene as a main constituent.