The buckling of new three‐phase composite shells, which include the base material combined with macro fiber composite and reinforced with graphene (MFC‐GP), is investigated in this article. The bifurcation condition of the buckling is obtained by implementing the first‐order shell theory and wave propagation theory in conjunction with the principle of minimum potential energy. The buckling analysis is transformed into a bifurcation problem of equations. Parametric study is conducted to investigate the effects of the GP volume fraction, length, neutral surface radius, and thickness on the critical buckling loads and critical buckling modes. Furthermore, the influences of voltage and temperature change on the critical buckling displacements are explored. Reliable theoretical support for the design and manufacture of the MFC‐GP structures is provided in the results.