Li-ion battery, as a typical rechargeable battery, has been dominantly applied in the energy storage field. In recent years, the high-tech development has required much higher performance of Li-ion batteries than ever, including higher energy density, good safety and stability, etc, which motivates a broad set of investigations and innovations on the battery materials and structures. Among them, fabricating cathode and anode composites consisting of graphene has been of great interest. Herein, the structure of Li-ion battery, current challenges, and the cut-of-edge studies about the graphene-based cathode and anode materials, were comprehensively summarized. In particular, the enhancement mechanism of the graphene towards the electric properties of the electrodes, and the fabrication technologies of the composite electrodes were introduced. In addition, some potential developing directions of the Li-ion battery materials were proposed as well.