Despite the fact that metal is the most common conducting constituent element in the fabrication of metamaterials, one of the advantages of graphene over metal is that its conductivity can be controlled by the Fermi energy. Here, we theoretically investigate multilayer structures comprising alternating graphene and dielectric layers as a class of hyperbolic metamaterials for THz frequencies based on a general simple model of the graphene and the dielectric layers. By employing a method of matching the tangential components of the electrical and magnetic fields, we derive the relevant dispersion relations and demonstrate that tuning can be achieved by modifying the Fermi energy. Moreover, tunability of the graphene-dielectric heterostructures can be enhanced further by changing either the thickness of the dielectric layers or the number of graphene sheets employed. Calculated dispersion relations, propagation lengths of plasmon modes in the system are presented. This allows us to characterize and categorize the modes into two groups: Ferrel-Berreman modes and surface plasmon polaritons.