Alarming carbon dioxide emissions and its detrimental environmental impacts (e.g. climate change and global warming) are the major consequences of the undue reliance of the modern civilization on fossil fuels. Long-term solutions to address these issues are based on developing sustainable alternatives for the human energy thirst. However, the versatilities offered by the carbonaceous fuels have still preserved their popularity as the main source of energy for a wide variety of applications. After decades of practicing conventional carbon capture and storage, researchers believe the ultimate solution of realistically facing with CO2 sequestration problem is the chemical conversion of carbon dioxide to valuable products. However, substantial development of state-of-the-art materials remains the major bottleneck of such technologies. Graphene, as the rising star of the materials world in 21st century, offers game-changing prospects towards a more sustainable future for fossil-fuel-based economies. This two-dimensional planar sheet of sp2-bonded carbon atoms is the most widely studied nanomaterial since its discovery in 2004. Here we aim to highlight various aspects of graphene research in carbon dioxide capture and conversion from materials viewpoint. After presenting an overview of the most common and effective synthesis and doping/functionalization methods, the application of graphene and its derivatives in CO2 capture and conversion is discussed in detail. Catalytic, electrocatalytic and photoelectrocatalytic use of graphene-based compounds could potentially revolutionize some of the current techniques for CO2 transformation to valuable chemical commodities. CO2 to graphene conversion pathways are also covered extensively in this review paper as another intriguing relation of graphene with CO2.