Co3O4 nanorods/GNS (graphene nanosheets) nanocomposites have been synthesized through a one-spot solvothermal method, and characterized by X-ray diffraction, field emission scanning electron microscopy and transmission electron microscopy. Electrochemical performances reveal that the obtained Co3O4 nanorods/GNS nanocomposites exhibit improved cycling stability, remarkably high reversible lithium storage capacity and superior rate capability, e.g. approximate 1310mAhg−1 and 1090mAhg−1 of capacity are retained even after 40 cycles at a current density of 100mAg−1 and 1000mAg−1, respectively. The high electrochemical performances can be attributed to the unique structure of Co3O4 nanorods/GNS nanocomposites, in which the 1D structure of Co3O4 can prevent the aggregation of Co3O4 and reduce the stacking degree of GNS, providing an excellent ion diffusion and electronic conduction pathway.