Graphene-based paper is a new type of paper or film material. This light flexible and environmentally friendly material is based on graphene and its derivative nanosheets, such as graphene oxide (GO), reduced graphene oxide (rGO). In recent years, studies have shown that graphene-based paper material is expected to become a structure-function integrated material. With its high strength and flexible mechanical, excellent electrical, magnetic and biological multifunctional properties, it has attracted wide attention in the fields of energy, environmental protection, communication, biomedicine and other fields. From the perspective of graphene-based paper application, how to coordinate the composition and microstructure of materials to maximize the structural and functional characteristics of graphene-based paper is the key issue concerned in this field. In this review, the synthesis, performance and applications of graphene-based paper are summarized. The vacuum filtration and evaperation are pointed as the main synthesis methods, and the main strengthening methods of its mechanical and electrical properties are summarized, such as improving the internal structure, with the help of coupling agents or compositing with other materials. The application situations of graphene-based paper as electromagnetic shielding and microwave absorbing membrane, antimicrobial active membrane, mammalian cell culture and tissue engineering scaffold are reviewed. At present, to improve the electromagnetic parameters of graphene-base paper and impedance matching, the main work is focused on compositing magnetic metals, alloys and other materials, to avoid the antimicrobial properties of bacteria and improve material sterilization effect. Compounding inorganic antibacterial nanoparticles is what the most papers’ contend, and while maintaining its high strength or conductivity, how to enhance its impedance matching, antibacterial effect or biological compatibility, and broaden its application fields is what the studies interested in. Finally, on the basis of the main problems in the preparation of graphene- based paper, the future development direction, such as the development of non-toxic, harmless and efficient emulsifiers and reductants, synthesis of green and flexible paper materials with high throughput, low cost, large size is prospected.