Carbon dioxide (CO2), a major greenhouse gas, capture has recently become a crucial technological solution to reduce atmospheric emissions from fossil fuel burning. Thereafter, many efforts have been put forwarded to reduce the burden on climate change by capturing and separating CO2, especially from larger power plants and from the air through the utilization of different technologies (e.g., membrane, absorption, microbial, cryogenic, chemical looping, and so on). Those technologies have often suffered from high operating costs and huge energy consumption. On the right side, physical process, such as adsorption, is a cost-effective process, which has been widely used to adsorb different contaminants, including CO2. Henceforth, this review covered the overall efficacies of CO2 adsorption from air at 196 K to 343 K and different pressures by the carbon-based materials (CBMs). Subsequently, we also addressed the associated challenges and future opportunities for CBMs. According to this review, the efficacies of various CBMs for CO2 adsorption have followed the order of carbon nanomaterials (i.e., graphene, graphene oxides, carbon nanotubes, and their composites) < mesoporous -microporous or hierarchical porous carbons < biochar and activated biochar < activated carbons.