A general alternative to the Hummers’ or modified Hummers’ methods for the bulk production of good quality graphene is reported herein. The direct nucleophilic substitution reaction on fluorographite using hydroxide ions, followed by exfoliation, gives an aqueous dispersion of hydroxylated graphene. The substitution of fluorine moieties by hydroxyl groups dramatically enhances the exfoliation yield and offers a general and controlled method for the production of hydroxy graphene, which upon subsequent reduction, yields graphene of very good quality. It is then demonstrated to be a good platform for the electrochemical sensing of ascorbic acid, dopamine and uric acid.