The sustained extensive research on graphene and its derivatives in the last decade portrayed its significance in the field of material science and carved its own niche in nanotechnology. Starting from the simple pencil, the role of graphene now extends to a lifesaver through innovations in nanomedicine specifically the early detection of abnormalities and efficient treatments. Graphene has the potential to satisfy the nanotechnological concepts of personalized and regenerative medicine for a disease-free future. The functionalization techniques ameliorate graphene for improved solubility, stability, loading capacity, etc. which makes it an ideal nanosystem for theranostic applications such as biosensing, drug delivery, gene therapy, bioimaging, phototherapy and hybrid theranostics. In addition, due to its electrically tunable surface chemistry, maximal surface-to-volume ratio, easy functionalization capacity and mechanical robustness, graphene gained enormous attention in tissue engineering specifically in cardiac, nerve, bone, skin and stem cells. This review focusses on the recent developments in graphene-based nanotheranostics and tissue engineering, which reveals the hidden potential of modern medical notions in efficiently handling the variety of abnormalities. Moreover, it raises the necessity of successful therapeutic systems to transfer from bench-to-bedside through clinical trials to enhance the current treatment scenario. (C) 2017 Elsevier Ltd. All rights reserved.