Graphene is a two-dimensional monolayer of carbon atoms arranged in a hexagonal lattice consisting of sp2 hybridized conjugated carbon atoms and serves as a promising electrode material for lithium-ion batteries (LIBs) owing to its superior properties, including a high specific surface area (2630 m2g-1), a high theoretical capacity (744 mAhg-1), excellent electrical conductivity, and a wide electrochemical potential window. Despite having these superior properties, the restacking as well as the van der Waals forces of attraction among the graphene layers and the long path for Li-ion diffusion are factors that reduce the specific surface area and active site for Li-ion storage, which in turn influence the electrochemical performance of LIBs. The functionalization of graphene to porous graphene, graphene quantum dots, and graphene oxides, as well as the integration of graphene with other foreign materials such as transitional metal oxides, various heteroatoms (boron, nitrogen, sulfur, etc.), and covalent organic frameworks (COF), are the two main strategies that have been widely applied to improve the properties of graphene for Li-ion battery applications. In this review, recent works regarding the performance of graphene and graphenebased electrode materials for LIBs applications were reviewed and presented in detail. Moreover, various graphene fabrication techniques in terms of quality and quantity of graphene produced as well as the future overview of graphene and some selected graphene-based materials for LIBs applications have been assessed and summarized.