Graphene oxide(GO) is a chemically modified composite material of graphene by oxygen-containing functional groups. In addition to excellent chemical and physical properties of graphene, GO can provide larger surface area, promote stem cell proliferation, osteogenic differentiation, and has unique biocompatibility and antibacterial properties, resulting in broad prospects of application in the field of biomedicine. This article reviews the progress of graphene oxide on drug and protein delivery, bone tissue engineering, anti-inflammatory and antibacterial actions, and the possible toxic and side effects.