Poly(lactic acid) (PLA) is a green alternative to petrochemical commodity plastics, used in packaging, agricultural products, disposable materials, textiles, and automotive composites. It is also approved by regulatory authorities for several biomedical applications. However, for some uses it is required that some of its properties be improved, namely in terms of thermo-mechanical and electrical performance. The incorporation of nanofillers is a common approach to attain this goal. The outstanding properties of carbon-based nanomaterials (CBN) have caused a surge in research works dealing with PLA/CBN composites. The available information is compiled and reviewed, focusing on PLA/CNT (carbon nanotubes) and PLA/GBM (graphene-based materials) composites. The production methods, and the effects of CBN loading on PLA properties, namely mechanical, thermal, electrical, and biological, are discussed.