<p>The global requirement to mitigate environmental challenges demands a paradigm shift towards sustainable materials. Forest-based products, primarily derived from wood, present a promising path due to their abundance and renewability. However, enhancing their properties to meet modern demands remains a challenge. This review article, the first of its kind, explores the transformative potential of incorporating graphene and graphene-based nanomaterials into forest-based products to overcome the challenges associated with mass-scale applications. Graphene, a two-dimensional carbon nanomaterial, has emerged as a multifunctional additive with exceptional mechanical, electrical, and thermal properties. Functionalization of graphene through covalent or non-covalent modifications has emerged as a key strategy to tune its characteristics and expand its utility across different domains. Recent studies highlight its promising role in forest-derived products, including coatings, composites, adhesives, and lignocellulosic substrates. Graphene and its derivatives, such as graphene oxide, reduced graphene oxide, and graphene nanoplatelets, have been shown to enhance barrier properties, mechanical strength, fire retardancy, and environmental resistance, while also reducing volatile organic compound emissions through formaldehyde scavenging. Moreover, graphene-coated forest-derived substrates demonstrate potential for applications in energy storage, smart sensors, and multifunctional green devices. This review compiles recent advances in integrating graphene with wood and lignocellulosic materials to address the urgency and potential of this innovative approach towards a more sustainable future. It also discusses the practical challenges in applying graphene, thereby providing a comprehensive perspective for its future research and industrial applications.</p>