A Fe2O3 nanoparticle/carbon aerogel composite (Fe2O3/CA) is prepared from a carbon aerogel prepared by a sol–gel process by a simple soaking in a Fe(NO3)3 solution and subsequent heat treatment at 600°C. Thermal gravimetric analysis, X-ray diffraction, scanning and transmission electron microscopy, energy dispersive X-ray analysis and X-ray photoelectron spectroscopy are used to characterize the products. The electrochemical performance of samples with different Fe2O3 content is evaluated. The optimal sample Fe2O3/CA-60 exhibits a good capacity retention of 916 and 617mAhg−1 for the 1st and 100th cycle, respectively, which is much better than that of pure Fe2O3 and CA. The improved cycling performance, specific capacity and rate capability of Fe2O3/CA is mainly attributed to the synergistic effects of the nanoporous network skeleton of CA and the uniformly dispersed Fe2O3 nanoparticles.