Use of graphene oxide (GO) nanosheets as ‘carbocatalyst’ has emerged with overwhelming prospects since the seminal report from C. W. Bielawski in 2010. Water dispersible GO nanosheets are prepared from graphite powder via conventional oxidation and subsequent exfoliation. Use of GO as the catalyst is however focussed primarily on (i) its easy reducing nature, which in turn could promotes various oxidation reactions and (ii) acidic nature due to the presence of carboxylic acid groups mostly on its edges that in turn could act as solid heterogeneous acid and mediate various acid-catalyzed reactions. Notable advantages of catalytic uses of GO are: obtaining easily from renewable sources, metal-free, avoiding use of toxic salts, reusability etc. The present review article aims at summarizing catalytic applications in promoting diverse organic reactions since 2010 along with its future prospects.