Paper is an attractively assembled form of materials and has accompanied our daily life almost everywhere. Two-dimensional layered materials, especially graphene, have unique intrinsic structures to be exploited for smart architecture of macroscopic papers that are offering many newly emerging applications. Research advances in graphene based papers in the past few years have created a new category of composite materials. This review aims at offering an up-to-date comprehensive summary of graphene-supported papers, with the emphasis on smart assembly and purpose-driven specific functionalization for their critical applications associated with sensing, environmental and energy technologies. The contents of this review are based on a balance combination of our own studies and selected research studies done by worldwide academic groups. We first give a brief introduction to graphene as a versatile building block and to the current status of research studies on graphene papers. This is followed by addressing some crucial methods of how to prepare graphene papers. We then summarize multiple possibilities of functionalizing graphene papers, membranes or films. Finally, we evaluate some key applications of graphene papers in the areas of chemical/electrochemical sensors, biomimetics and energy storage devices, just before leading to our concluding remarks and perspectives.