The folds graphene waveguide excited Surface Plasmon Polaritons(SPPs) was designed and full compensation structures could be realized with periodic array by graphene material. The propagation model of period folds excited SPPs and the full compensation were analyzed theoretically. The results of theoretically analysis show that the period fold structure can not only excite SPPs, but also control device parameters using SPPs wave relations. In addition, periodic array compensation can significantly increase the propagation distance of SPPs. Further simulation results show that the proposed structure has the advantage of strong localized and subwavelength waveguide size; periodic array compensation can significantly improve the electric field strength of nanocavity; structure of graphene waveguide expresses high levels of population inversion and low spontaneous emission noise disturbance. The proposed graphene waveguide devices can be provided for the micronano optics, photonic sensing and measurement.