In recent years, significant attention has been given to the development of carbon-based adsorbents for the removal of phenol from aqueous environments due to its toxicity and persistence. This review compiles and evaluates 38 such adsorbents, including activated carbon, graphene, graphene oxide, multiwalled carbon nanotubes, and various carbon-based composites, all demonstrating high phenol adsorption capacity. The average uptake capacity was found to be 231.0 mg/g, with adsorbents typically reusable for up to five cycles, an average treatment time of 90 min, and notable activity toward additional pollutants such as dyes, organics, and heavy metals. To aid in practical selection, a guideline was developed based on three primary metrics: (i) uptake capacity (200–700 mg/g), (ii) reusability (4–5 cycles with 80–90% removal efficiency), and (iii) activity for multiple pollutant types. Based on this framework, two activated carbons, derived from Moringa oleifera husk and lignin, emerged as highly effective, with uptake capacities of 612–730 mg/g, reusability over 4–5 cycles, and strong activity toward methylene blue. Similarly, MWCNTs and graphene oxide were also identified as practical adsorbents, with uptake capacities 224–602 mg/g and reusability for up to five cycles, achieving final efficiencies of 80–92%. While the focus is on phenol, the proposed guide is adaptable for identifying adsorbents targeting other contaminants, including pesticides, dyes, and heavy metals. This review contributes a structured evaluation framework that synthesizes key performance indicators; offering a broader, more applicable comparison than typically presented in the literature.