Modeling and simulation allow methodical variation of material properties beyond the capacity of experimental methods. The polymers are one of the most commonly used matrices of choice for composites and have found applications in numerous fields. The stiff and fragile structure of monolithic polymers leads to the innate cracks to cause fracture and therefore the engineering applications of monolithic polymers, requiring robust damage tolerance and high fracture toughness, are not ubiquitous. In addition, when “many-parts” cling together to form polymers, a labyrinth of molecules results, which does not offer to electrons and phonons a smooth and continuous passageway. Therefore, the monolithic polymers are bad conductors of heat and electricity. However, it is well established that when polymers are embedded with suitable entities especially nano-fillers, such as metallic oxides, clays, carbon nanotubes, and other carbonaceous materials, their performance is propitiously improved. Among various additives, graphene has recently been employed as nano-filler to enhance mechanical, thermal, electrical, and functional properties of polymers. In this review, advances in the modeling and simulation of grapheme based polymer nanocomposites will be discussed in terms of graphene structure, topographical features, interfacial interactions, dispersion state, aspect ratio, weight fraction, and trade-off between variables and overall performance.