The present invention relates to a method for preparing a graphene-based LiFePO4/C composite material, to solve the problem of poor conductivity and rate performance of lithium iron phosphate cathode material. The main features of the present invention include the steps of: 1) preparing an iron salt solution having graphene oxide dispersed therein; 2) preparing a ferric phosphate/graphene oxide precursor; 3) preparing the graphene-based LiFePO4/C composite material. The beneficial effects of the method is that the process is simple, easy to control and the resulted graphene-based LiFePO4/C composite material has high specific capacity, good recycle performance and excellent rate capability is particularly suitable to the field of the power battery application.