In the last two decades, the development of easy preparation methods of graphene like materials (Fig. 1), such as graphene oxide (GO) and reduced graphene oxide (rGO) via reduction of graphite oxide, offers a wide range of possibilities for the preparation of GO based inorganic nanocomposites by the incorporation of various functional nanomaterials for a variety of applications. In this chapter, we discuss the current development of graphene and GO based metal and metal oxide nanocomposites, with a detailed account of their synthesis and properties (Fig. 2). Specifically, much attention has been given to their wide range of applications in various fields and new technology. In this work, we explained all subjects in two parts. At the first part, we discussed about preparation of graphene, GO, reduced GO and GO based metal and metal oxide nanocomposites. And in another part, we explained about properties and application of what are mentioned