Graphene, a honeycomb lattice of carbon material with single‐atom‐layer structure, demonstrates extraordinary mechanical, thermal, chemical and electronic properties. Thus, it has sparked tremendous interests in various fields, such as energy storage and conversion devices, field‐effect transistors (FET), chemical sensors and biosensors. In this review, we will first focus on the synthesis method of graphene and the fabrication strategy of graphene‐based materials. Subsequently, the construction of graphene‐based biosensors are introduced, in which three kinds of biosensors are discussed in details, including the FET, electrochemical biosensors and electrochemiluminescence (ECL) biosensors. The performances of the state‐of‐the‐art biosensors on the detection of biomolecules are also displayed. Finally, we also highlight some critical challenges remain to be solved and the development in this field for further research.