Friction and wear of stainless-steel materials is a great waste of economy and energy. Graphene with high strength provides a new way, to improve the wear resistance of stainless-steel materials. The combination of the two materials is of great significance to the industrial field. According to the combination mode of graphene and stainless-steel materials, the research progress on the application of graphene in the friction and wear of stainless-steel materials was summarized. From the processing to the application of stainless-steel materials, the law of graphene reducing the friction coefficient of stainless steel was revealed. As a cutting fluid additive, graphene nanoparticles can greatly reduce the friction coefficient of the friction interface between stainless steel and the tool, thus improving the surface quality of stainless-steel workpiece. Preparation followed by transfer is still the main way for graphene to be applied to stainless steel surface. Graphene acts on the friction interface in the form of solid lubricant, and the wear rate of stainless-steel surface can be reduced by an order of magnitude. The continuous development of laser melting additive manufacturing technology provides an effective way for graphene reinforced stainless steel composites, greatly promotes the process of engineering application of the material, and provides a new research direction for graphene to reduce the friction and wear of stainless-steel materials. Finally, through the research on the reduction of friction and wear of stainless-steel materials by graphene, some problems existing in the current research are pointed out and possible solutions are proposed, and the application prospect of this direction is prospected.