Scaffolds are physical substrates for cell attachments, proliferation, and differentiation, ultimately leading to tissue regeneration. Current literature validates tissue engineering as an emerging tool for bone regeneration. Three-dimensionally printed natural and synthetic biomaterials have been traditionally used for tissue engineering. In recent times, graphene and its derivatives are potentially employed for constructing bone tissue engineering scaffolds because of their osteogenic and regenerative properties. Graphene is a synthetic atomic layer of graphite with SP2 bonded carbon atoms that are arranged in a honeycomb lattice structure. Graphene can be combined with natural and synthetic biomaterials to enhance the osteogenic potential and mechanical strength of tissue engineering scaffolds. The objective of this review is to focus on the most recent studies that attempted to explore the salient features of graphene and its derivatives. Perhaps, a thorough understanding of the material science can potentiate researchers to use this novel substitute to enhance the osteogenic and biological properties of scaffold materials that are routinely used for bone tissue engineering.