Owing to an increase in energy demand, excessive utilization of fossil fuels, and growing appeal for environmental protection, it is vital to develop cost-effective and highly efficient materials for energy storage and conversion devices. Currently, supercapacitors are considered to be advanced electrochemical energy storage devices due to their speedy charge-discharge, outstanding electrochemical stability, and high-power density. In recent decades, extensive studies have been performed to understand the usage of graphene-based materials for energy storage and conversion systems. Graphene is a lightweight material with easy and cost-effective synthesis, extended surface area, superior electronic conductivity, excellent mechanical behavior, and electrochemical performance. Graphene and its derivatives, including graphene-metal oxides, graphene-polymer composites, and graphene-other forms of carbon-based nanomaterials, have shown fundamental applications as flexible energy storage devices. The flexible supercapacitors integrate a system that can be useful in remote places, body panels, and the wearable and stretchable modern electronic systems. This chapter aims to provide a detailed outline of contemporary progress to the growth of novel and high-performance supercapacitors with decent flexibility based on graphene and its derivatives, suggesting a promising pathway for next-generation wearable electronics. The key encounters and imminent remarks in this emerging field are also discussed.