Recently, graphene family materials (GFMs) have been introduced among all fields of science and still get numerous attention. Also, the applicability of these materials in many areas makes them very attractive. GFMs have attracted both academic and industrial interest as they can produce a dramatic improvement in materials properties at very low filler content. This article presents recent findings on GFMs toxicity properties based on the most current literature. This article studies the effects of GFMs on bacteria, mammalian cells, animals, and plants. This article also reviews in vitro and in vivo test results as well as potential anticancer activity and toxicity mechanisms of GFMs. The effect of functionalization of graphene on pacifying its strong interactions with cells and associated toxic effects was also analyzed. The authors of the article believe that further work should focus on in vitro and in vivo studies on possible interactions between GFMs and different living systems. Further research should also focus on decreasing GFMs toxicity, which still poses a great challenge for in vivo biomedical applications. Consequently, the potential impact of graphene and its derivatives on humans and environmental health is a matter of academic interest. However, potential hazards sufficient for risk assessment first need to be investigated.