A tunable graphene-based hyperbolic metamaterial is designed and numerically investigated in the mid-infrared frequencies. Theoretical analysis proves that by adjusting the chemical potential of graphene from 0.2 eV to 0.8 eV, the reflectance can be blue-shifted up to 2.3 µm. Furthermore, by modifying the number of graphene monolayers in the hyperbolic metamaterial stack, we are able to shift the plasmonic resonance up to 3.6 µm. Elliptic and type II hyperbolic dispersions are shown for three considered structures. Importantly, a blue/red-shift and switching of the reflectance are reported at different incident angles in TE/TM modes. The obtained results clearly show that graphene-based hyperbolic metamaterials with reversibly controlled tunability may be used in the next generation of nonlinear tunable and reversibly switchable devices operating in the mid-IR range.