Carbon electronics based on diamond and graphene field effect transistors have attracted significant attention for potential RF applications. Graphene is a 2 dimensional atomic layer of carbon atoms with unique electronic transport properties, such as outstanding carrier mobility and high carrier saturation velocity, which make graphene an excellent candidate for applications in high-speed analog electronics. Diamond also shows several physical properties that make it interesting for high power applications. In this paper, we discuss the current status and the prospects and problems of graphene and diamond transistors. Those properties of graphene and diamond relevant for transistors, including preparation of high-quality graphene film in large-scale, weak current saturation of the graphene transistors, growth of single crystalline and electronic diamond film, and doping of the diamond are reviewed. Our works on graphene and diamond electronics are also introduced. With the deep going of the investigation, carbon electronics should be used in the near future.