As a newly emerging advanced two-dimensional material, the discovery and in-depth research of graphene have a huge impact on many fields such as semiconductors, energy harvesting, and biological sciences, etc. This review systematically highlights the current research status of graphene oxide liquid crystal (GO-LC), applying to transmissive and reflective-mode liquid crystal display. In particular, an extremely large Kerr coefficient of graphene oxide liquid crystal contributes to fabricate low power, quick response, and easy switching of electro-optic devices. By applying horizontal fields, the structural color can be written and erased accordingly. These results elucidate that graphene oxide liquid crystal has great potential in the electrical-optical device and provides a new possibility for two-dimension liquid crystal materials in actual applications.