NiCr2O4 is successfully prepared via hydrothermal pretreatment and subsequent sintering, which shows excellent electrochemical performance as a new anode material for lithium ion batteries with natural graphite adding and sodium alginate binder. At a specific current of 70mAg−1, it delivers charge and discharge capacities of 465.5 and 919.8mAhg−1 in the initial cycle, which gradually increases along with cycle number owing to an electrochemical reconstruction in cycling. After 100 cycles, the charge and discharge capacities are 582.9 and 592.5mAhg−1, respectively. Furthermore, it is testified that natural graphite adding can effectively improve the electronic conductivity of the NiCr2O4 electrode, and an appropriate amount of natural graphite is beneficial to improve the specific capacity and cycle stability of the electrode owing to a coordinated electrochemical reconstruction between NiCr2O4 and natural graphite in cycling.