Graphene is one of the several forms of carbon, also known as its “allotropes”. It consists of a single-atom–thick sheet of carbon atoms with remarkable and exciting properties. It is super-strong and stiff, amazingly thin, almost completely transparent, extremely light, and an amazing conductor of electricity and heat. It also has extremely unusual electronic properties. These qualities make Graphene, a superb alternative for the use as a transparent conductor, now found in everything from computer displays and flat panel TVs to ATM touch screens and solar cells. It can be used to make excellent transistors in which, the electrons travel ballistically over submicron distances. Moreover, gas sensors could be created which are sensitive to a single atom or molecule with the help of Graphene. In condensed matter physics, electronic properties of materials are described by the Schrodinger equation, but Graphene is an exception. Its charge carriers mimic relativistic particles and are described starting with the Dirac equation, rather than the Schrodinger equation. So it can be used to test the predictions of quantum electrodynamics. This is a new area of research, since it hasn't been easy to find a material that displays Dirac particles. The list of applications of Graphene is countless. Thus, Graphene is a rock star material that relies on one of the most abundant materials on Earth, Carbon. It will drastically change the feasibility and efficiency of many future technologies, and in turn these future technologies will change our lives. This paper presents a review on the properties and applications of Graphene.