Fe2O3–CNT–graphene nanosheet (Fe2O3–CNT–GNS) hybrid materials were synthesized using a chemical vapor deposition method. The as-prepared materials consist of Fe2O3 nanorings, bamboo-like carbon nanotubes and graphene nanosheets, which form an open three-dimensional architecture. For the first time, we observed the growth of bamboo-like carbon nanotubes with open tips, which were catalyzed by iron nanorings. When applied as anode materials in lithium ion batteries, the Fe2O3–CNT–GNS hybrid materials exhibited a high specific capacity of 984mAhg−1 with a superior cycling stability and high rate capability. This could be ascribed to short Li+ diffusion path of bamboo-like CNTs, more active reaction sites provided by graphene layers inside CNTs, flexible and highly conductive graphene nanosheets, and an open three-dimensional structure.