Laurylamine-intercalated graphite oxide (GO) is prepared by ultrasonic in the presence of a small amount of hexane and then chemically reduced by hydrazine. The interlayer spacing of laurylamine-intercalated GO reaches a maximum when the molar ratio of laurylamine and GO is 1.384. Three types of laurylamine in GO are identified in the intercalated compounds: hydrogen-bonded neutral amines, hydrogen-bonded protonated amines, and ionically bound protonated amines. Modified graphene colloidal suspension is obtained by chemical reduction of laurylamine-intercalated GO in dimethyl formamide (DMF). Furthermore, a possible chemical reduction mechanism is put forward to explain the hydrazine reduction process.