Hydrogen storage is one of the critical challenges for the extensive adoption of hydrogen-based energy systems. Carbon-based derivatives have emerged as promising materials for the proficient hydrogen storage composites. This chapter highlighted various carbon-based composites and their hydrogen adsorption mechanism, which includes graphene, CNTs, fullerenes, and activated carbon. The role of surface functionalization, defects, and porosity have been highlighted. Challenges related to storage capacity, environmental conditions and stability are also discussed. Future perspective on optimizing carbon derivatives-based nanocomposites for hydrogen storage were examined.