In recent years, 2D materials have been widely used in optical and photonic applications such as mode lockers, optical switches, polarizers, and optical modulators. As is known, many 2D optical materials are parabolic semiconductors. The electronic states determines the material's optical characteristics. The energy band structure with a bandgap dominates the electron dynamics process associated with intrinsic light absorption. Particularly, the Dirac cone and flat band (FB) are special nonparabolic energy band structures in materials. Dirac materials are characterized by a zero bandgap, and FB materials have a completely flat dispersionless band in the Brillouin zone. These materials are used as emergent and promising 2D materials for saturable absorbers (SAs) due to their excellent nonlinear optical response, and they become potential candidates for ultrafast photonics applications. Herein, the focus is on the characteristics of the energy band structure; the carrier dynamics are reviewed, and application in ultrafast photonics are summarized.