The present work deals with a review on graph theory that has been utilized to estimate thermodynamic properties of binary and ternary liquid mixtures. Various topological indices have been used to describe the topology of the chemical species it presents. Elegance and versatility of connectivity parameters of third degree of molecules, 3ξ, of the various components (derived from their topology) of mixtures are used to estimate (i) existence of components in mixture as well as pure state along with the extent and nature of the interaction between the constituent molecules; (ii) excess molar volume, VE, excess isentropic compressibility, κSE, excess molar enthalpy, HE, excess heat capacity, CPE, excess Gibb’s energy, GE of binary and ternary liquid mixtures. The present review reports the development of graph theory and its utilization for the determination of VE, κSE, HE, CPE, GE of two/three component mixtures (components being non-polar, polar differing in size, shape, polarity and ionic liquids).