The lithium ion battery electrolytic solvent, ethylene carbonate:di ethylene carbonate (EC:DEC), influences the exfoliation of semi exfoliated graphite oxide (srGO) further, to promote the better disperstion of Fe3O4 and to enhance the material performance. The composite, semi exfoliated reduced graphite oxide-Magnetite (srGO–Fe3O4) has been prepared using homogeneous co-precipitation method with the aid of microwave oven. The microwave has been introduced to reduce GO and improve the interstitial crystallisation of Fe3O4. srGO–Fe3O4 composite material has been subjected to structural and electrochemical characterization to evaluate their structure and aptness as a possible anode material for lithium ion batteries. srGO–Fe3O4 composite in the 1st cycle demonstrate a better charge capacity of ∼994 mAhg−1 at 75 mA g−1 in the potential range 0.01–3.0 V. Besides, interestingly the cyclability at higher rate (300 mA g−1) is encouraging and demonstrates increased in capacity than the initial over the studied 100 cycles. Thereby, providing proof for the exfoliation driven by EC:DEC in graphitic lamella and by assisting in the expansion of its reaction sites for the better insertion and desersion of lithium ion during cycling. This exfoliation and distribution of particles over srGO matrix has made evident from the FESEM images and Raman shift analysed for the cycled electrode.