The growing demand for clean and safe water has intensified research on advanced materials capable of addressing complex wastewater contaminants. Graphene and its functionalised nano-derivatives have emerged as versatile materials in water purification due to their exceptional physicochemical properties, including high surface area, tunable surface chemistry, superior mechanical strength and excellent electronic conductivity. The high surface area, mechanical strength and chemical stability of graphene-based materials enhance their adsorption capacity and effectiveness in removing heavy metals and trapping organic contaminants, such as pharmaceuticals and benzene-related chemicals, from wastewater. The π-π stacking, electrostatic interactions and surface functional groups play critical roles in promoting adsorption processes and enhancing the efficacy of graphene-based materials for contaminant removal from wastewater streams. This review summarises recent advancements in the use of graphene and its derivatives for wastewater treatment, providing insights into the underlying mechanisms governing contaminant removal and the potential of these nanocarbon materials for global water pollution mitigation.