A novel solvothermal method has been used for the synthesis of porous ellipsoidal GeO2 particles with oleic acid and oleylamine as solvent and co-surfactant, respectively and its performance has been studied as an anode material for Li ion battery applications. The presence of highly hydrophobic oleic acid and oleylamine on the surface of the as synthesized sample imparts a detrimental effect on its performance. Although removal of the capping agents with glacial acetic acid improves the performance to some extent, a drastic enhancement in both the specific capacity and cycling stability is observed when the nanoparticles are wrapped with rGO/PANI composites at low temperature.