Waste wood, which has a large amount of cellulose fibers, should be transformed into useful materials for addressing environmental and resource problems. Thus, this study analyzed the application of waste wood as supercapacitor electrode material. First, cellulose fibers were extracted from waste wood and mixed with different contents of graphene nanoplatelets (GnPs) in water. Using a facile filtration method, cellulose papers with GnPs were prepared and converted into carbon papers through carbonization and then to porous activated carbon papers containing GnPs (ACP−GnP) through chemical activation processes. For the morphology of ACP−GnP, activated carbon fibers with abundant pores were formed. The increase in the amount of GnPs attached to the fiber surfaces decreased the number of pores. The Brunauer–Emmett–Teller surface areas and specific capacitance of the ACP−GnP electrodes decreased with an increase in the GnP content. However, the galvanostatic charge–discharge curves of ACPs with higher GnP contents gradually changed into triangular and linear shapes, which are associated with the capacitive performance. For example, ACP with 15 wt% GnP had a low mass transfer resistance and high charge delivery of ions, resulting in the specific capacitance value of 267 Fg−1 owing to micropore and mesopore formation during the activation of carbon paper.