The widespread use of electronic equipment, such as computers, cell phones, communication devices and wireless facilities, has increased electromagnetic radiation, which can cause cancer and other diseases in humans. Furthermore, there is an urgent need for excluding the interferences in the aircraft and other precise instruments in military aspects. Therefore, minimizing and attenuating electromagnetic waves are critical issues. In this review, various two-dimensional (2D) materials and structures are discussed for microwave-absorbing and shielding in terms of ‘thin, light, wide, and strong’ requirements. The typical absorption and attenuation mechanisms are analysed and summarized to deliver an overall view and offer possible trends for future developments. Multiple works have revealed that 2D materials and structures are promising for use in microwave devices. In addition to conventional materials with 2D structures, we focus on new graphene-like materials, such as 2D transition metal dichalcogenides and black phosphorus, due to their beneficial absorbing and shielding properties. These 2D materials will likely play an important role in electromagnetic wave absorption and cancellation in the future. Finally, the related challenges and some new 2D materials are briefly discussed.