In recent years, graphene-coated nanowires (GCNWs) have attracted considerable research interest due to the unprecedented optical properties of graphene in terahertz (THz) and mid-infrared bands. Graphene plasmons in GCNWs have become an attractive platform for nanoscale applications in subwavelength waveguides, polarizers, modulators, nonlinear devices, etc. Here, we provide a comprehensive overview of the surface conductivity of graphene, GCNW-based plasmon waveguides, and applications of GCNWs in optical devices, nonlinear optics, and other intriguing fields. In terms of nonlinear optical properties, the focus is on saturable absorption. We also discuss some limitations of the GCNWs. It is believed that the research of GCNWs in the field of nanophotonics will continue to deepen, thus laying a solid foundation for its practical application.