Graphene and graphene-based materials have been attracted in the past few years for biomedical applications due to their physicochemical and biological properties such as large surface area, chemical and mechanical stability, excellent conductivity, and good biocompatibility. Graphene-based materials not only surface modified graphene-based materials like graphene oxide (GO) or reduced graphene oxide (rGO) but also other structural forms like fullerene, carbon nanotubes, and graphite have been applied to advanced drug delivery systems. In this chapter, we review on the application of graphene-based materials in the drug delivery system with their physicochemical properties, methods for the preparation of graphene-based carriers, followed by analysis about their biodistribution and biosafety whether they are suitable as drug delivery carriers.