We investigate the nonlinear optical limiting effect of novel graphene dispersions and graphene dispersions in carbon tetrachloride at a wavelength of 3.8 µm. The transmittances of graphene dispersions in carbon tetrachloride under two different concentrations (0.004 and 0.008 mg/mL) and two different solution thicknesses (10 and 20 mm) are measured. The influences of concentration and thickness on the optical limiting effect of graphene dispersion are analyzed. Theoretical analysis of the experimental data shows that the main optical limiting mechanism of the new graphene dispersions is Mie scattering. The limiting capacity coefficient of the new graphene dispersion in carbon tetrachloride reaches 0.405 and the minimum transmittance reaches 0.292 when the concentration is 0.004 mg/mL and the thickness is 20 mm. The graphene dispersions in carbon tetrachloride can be used to achieve good nonlinear optical limiting effects at the wavelength of 3.8 µm.