Due to its atomic structure with sp2 hybrid orbitals and unique electronic properties, graphene has an extraordinarily high thermal conductivity which has been reported to be up to 5000 W/mK. As a consequence, the use of graphene-based materials for thermal management has been subject to substantial attention during recent years in both academia and industry. In this paper, the development of a new type of graphene-based thin film for heat dissipation in power devices is presented. The surface of the developed graphene based film is primarily composed of functionalized graphene oxide, that can be bonded chemically to the device surface and thus minimize the interface thermal resistance caused by surface roughness. A very high in-plane thermal conductivity with a maximum value of 1600 W/mK was detected by laser flash machine regarding to the graphene-based films. To investigate the structure of the graphene-based films, scanning electron microscopy (SEM) and raman spectroscopy were carried out. Finally, LED demonstrators were built to illustrate the thermal performance of graphene-based film and the functional layers. IR camera recorded a 5°C lower temperature of a LED demonstrator with SHT G1000 as the binding layer instead of a commercial thermal conductive adhesive.