In this work, we report the one-pot synthesis of highly exfoliated graphene oxide-polypyrrole-Ag (GO-PPy-Ag) ternary nanocomposite using graphene oxide, silver nitrate and pyrrole. Formation of highly exfoliated GO-PPy-Ag ternary nanocomposite was systematically investigated by using FT-IR, Raman, XRD, XPS, TGA, BET, FE-SEM and TEM. Based on the surface morphology, it is concluded that the PPy-Ag nanoparticles are uniformly distributed over the highly exfoliated graphene oxide nanosheets. From the electrochemical study, GO-PPy-Ag ternary nanocomposite exhibits a highest specific capacitance of 370.6 F g−1 than the corresponding PPy-Ag binary nanocomposite (103.4 F g−1). The GO-PPy-Ag ternary nanocomposite showing the high rate performance of 87.4% at a current density ranging from 1 to 10 A g−1. The improved electrochemical properties are attributed to the good contact between PPy-Ag nanoparticles and graphene oxide nanosheets.