Abstract: Graphene has become one of the most potential reinforcing materials because of the unique two-dimensional structure and the excellent thermal, electrical, and mechanical properties. In this paper, the preparation of the aluminum−graphene composites was reviewed. The influence factors on the mechanical properties and conductivity performances of the aluminum−graphene composites were introduced. Subsequently, the applications of the aluminum−graphene composites in the field of high strength and high conductivity materials were investigated. Challenges on the preparation of high quality graphene powders, the scale production of mixing powders, and the continuously processing method in the industrialization were discussed. The possible technological methods for the industrialization of aluminum−graphene composites and the potential research directions were proposed.