Disclosed are a graphene composite nanofiber and a preparation method thereof. The graphene composite nanofiber is produced by dispersing graphenes to at least one of a surface and inside of a polymer nanofiber or a carbon nanofiber having a diameter of 1˜1000 nm, and the graphenes include at least one type of monolayer graphenes, and multilayer graphenes having a thickness of 10 nm or less. The graphene composite nanofiber can be applied to various industrial fields, e.g., a light emitting display, a micro resonator, a transistor, a sensor, a transparent electrode, a fuel cell, a solar cell, a secondary cell, and a composite material, owing to a unique structure and property of graphene.