Graphene, a two-dimensional nanomaterial with excellent physical and chemical properties, is widely used in batteries, catalysis, sensors, printing, biomedicine and other fields. However, the application and development of graphene and its derivatives face great challenges in achieving low-cost, high-quality and large-scale production. Herein, the progress of large-scale preparation of graphene by liquid-phase exfoliation was reviewed. The focus was on exploring the principles of pretreatment methods for liquid-phase exfoliation, including electrochemical intercalation, solvent intercalation, high-temperature expansion and microwave expansion, and their effects on the exfoliation effect of graphene. Subsequently, the advantages/disadvantages and selection principles of exfoliation solvents, such as water-based solvents, organic solvents and mixed solvents, were analyzed. The exfoliation principles and advantages/disadvantages of process intensification equipment, such as ultrasonic, high-shear and microchannel, were compared. Then, the post-processing method and separation effect of centrifugal separation on graphene were briefly described. Finally, the efficient production of graphene by liquid-phase exfoliation was being improved through multi-objective optimization techniques by integrating artificial intelligence. This included experimenting with residual-free functional intercalation agents and combining them with gentle and rapid expansion methods; exploring solvent systems with properties such as low toxicity, low boiling points and high dispersion characteristics; accurately regulating the liquid-phase exfoliation mechanism and engineering cascaded centrifugation equipment to achieve continuous, large-scale and cost-effective rapid production of graphene.