Fuel cells are at the forefront of modern energy research, with graphene-based materials emerging as key enhancers of performance. This overview explores recent advancements in graphene-based cathode materials for fuel cell applications. Graphene’s large surface area and excellent electrical conductivity and mechanical strength make it ideal for use in different solid oxide fuel cells (SOFCs) as well as proton exchange membrane fuel cells (PEMFCs). This review covers various forms of graphene, including graphene oxide (GO), reduced graphene oxide (rGO), and doped graphene, highlighting their unique attributes and catalytic contributions. It also examines the effects of structural modifications, doping, and functional group integrations on the electrochemical properties and durability of graphene-based cathodes. Additionally, we address the thermal stability challenges of graphene derivatives at high SOFC operating temperatures, suggesting potential solutions and future research directions. This analysis underscores the transformative potential of graphene-based materials in advancing fuel cell technology, aiming for more efficient, cost-effective, and durable energy systems.