With the ongoing global energy transition and rapid technological advancements, the demand for high‐efficiency systems in the power industry continues to grow. As a core component of electrical energy transmission within such systems, the enhancement of current‐carrying conductor performance has become a focal point for achieving technological breakthroughs. However, conventional current‐carrying materials, such as copper, are increasingly constrained by inherent performance limitations. Renowned for its exceptional electrical, thermal, and mechanical properties, graphene has emerged as a promising reinforcement phase for copper‐based composites, providing a pathway to overcome these limitations and enhance material performance. This paper provides a comprehensive review of various fabrication techniques for graphene/copper (Gr/Cu) composites, systematically elucidates the intrinsic mechanisms underlying their enhanced electrical and thermal conductivity, and explores the key factors influencing their performance. By summarizing recent research findings and advancements in the application of high‐efficiency current‐carrying conductors in the power industry, this study offers theoretical support for the feasibility of Gr/Cu composites in improving the efficiency and reliability of conductors. Additionally, it provides an outlook on future developments in performance optimization and large‐scale production of these materials to meet the application demands of high‐efficiency systems.