Due to their unique 2D structure and outstanding intrinsic physical properties, such as extraordinarily high electrical conductivity and large surface area, graphene-based materials exhibit great potential for application in supercapacitors. In this review, the progress made so far for their applications in supercapacitors is reviewed, including electrochemical double-layer capacitors, pseudo-capacitors, and asymmetric supercapacitors. Compared with traditional electrode materials, graphene-based materials show some novel characteristics and mechanisms in the process of energy storage and release. Several key issues for improving the structure of graphene-based materials and for achieving better capacitor performance, along with the current outlook for the field, are also discussed. Copyright © 2012 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.