Here we report the microwave absorbing properties of three graphene derivatives, namely, graphene oxide (GO), fluorinated GO (FGO, containing 5.6 at. % Fluorine (F)), and highly FGO (HFGO, containing 23 at. % F). FGO is known to be exhibiting improved electrochemical and electronic properties when compared to GO. Fluorination modifies the dielectric properties of GO and hence thought of as a good microwave absorber. The dielectric permittivities of GO, FGO, and HFGO were estimated in the S (2 GHz to 4 GHz) and X (8 GHz to 12 GHz) bands by employing cavity perturbation technique. For this, suspensions containing GO/FGO/HFGO were made in N-Methyl Pyrrolidone (NMP) and were subjected to cavity perturbation. The reflection loss was then estimated and it was found that −37 dB (at 3.2 GHz with 6.5 mm thickness) and −31 dB (at 2.8 GHz with 6 mm thickness) in the S band and a reflection loss of −18 dB (at 8.4 GHz with 2.5 mm thickness) and −10 dB (at 11 GHz with 2 mm thickness) in the X band were achieved for 0.01 wt. % of FGO and HFGO in NMP, respectively, suggesting that these materials can serve as efficient microwave absorbers even at low concentrations.