Graphene has attracted a lot of attention for ultracapacitor electrodes because of its high electrical conductivity, high surface area, and superb chemical stability. However, poor volumetric capacitive performance of typical graphene-based electrodes has hindered their practical applications because of the extremely low density. Herein we report a scalable synthesis method of holey graphene (h-Graphene) in a single step without using any catalysts or special chemicals. The film made of the as-synthesized h-Graphene exhibited relatively strong mechanical strength, 2D hole morphology, high density, and facile processability. This scalable one-step synthesis method for h-Graphene is time-efficient, cost-efficient, environmentally friendly, and generally applicable to other two-dimensional materials. The ultracapacitor electrodes based on the h-Graphene show a remarkably improved volumetric capacitance with about 700% increase compared to that of regular graphene electrodes. Modeling on individual h-Graphene was carried out to understand the excellent processability and improved ultracapacitor performance.