This paper studies the dynamics of a rotating circular cylindrical shell with non-uniform thickness. The base material of the shell is a polymer which is strengthened with either carbon nanotubes (CNTs), graphene nanoplatelets (GNPs), or graphene oxide powders (GOPs) which are distributed functionally graded (FG) with volume fractions that change in the axial direction. The first-order shear deformation theory (FSDT) is utilized to conduct the mathematical modeling of the shell and the Coriolis, centrifugal, and relative accelerations, and the initial circumferential tension are incorporated. The governing equations are attained via Hamilton’s principle and are solved through a semi-analytical solution. The dependency of the natural frequencies and critical angular velocity on several factors are discussed. It is discovered that by considering the same mass fractions for CNTs, GNPs, and GOPs, the GNPs bring about the best reinforcing effect and the CNTs have the weakest reinforcing effect.