As is well known, cellulose, as a natural polymer material with abundant reserves, plays an irreplaceable role as the major raw material in energy and chemical-related fields. With the continuous advancement of technology, native single-component cellulose is often unsatisfactory for practical applications, constructing composites is an effective means of expanding the applications. When compounded with other ingredients to prepare composites, cellulose usually needs to be dissolved and regenerated to obtain good dispersion. Current studies have revealed that cellulose is insoluble in conventional solvents, and the limited types of solvent systems that can dissolve cellulose tend to degrade the cellulose during the dissolution process, altering the cellulose properties. Ionic liquids (ILs) are a class of solvents that are capable of dissolving cellulose without adversely affecting the cellulose during the dissolution process, such as degradation. Graphene and carbon nanotubes (CNTs) are poorly dispersed and easily agglomerated by π-π stacking in general solvents, whereas ILs can effectively shield them from π-π stacking, resulting in a favorable and steady dispersion. Thus, the cellulose composites of graphene/CNTs can be prepared with the assistance of ILs. In this paper, the solubilization of cellulose by ILs and the solubilization mechanism to the preparation of cellulose composites with graphene/CNTs are reviewed, the interactions between graphene, CNTs and cellulose in the composites are elucidated, and the preparation of cellulose composites with graphene/CNTs is introduced in terms of their structure, properties and application potential.