In this paper, nano-lead-doped active carbon (nano-Pb/AC) composite with low hydrogen evolution current for lead-acid battery was prepared by ultrasonic-absorption and chemical-precipitate method. The nano-Pb/AC composite was characterized by SEM, EDS and TEM. The electrochemical characterizations are performed by linear sweep voltammetry (LSV), electrochemical impedance spectroscopy (EIS) and cyclic voltammetry (CV) in a three-electrode system. Since intermediate adsorption is the rate-determining step, the hydrogen evolution reaction (HER) is markedly inhibited as the intermediate adsorption impedance of nano-Pb/AC increased. Meanwhile, the working potential of nano-Pb/AC is widened to the whole potential region of Pb negative plate (from −1.36 V to −0.86 V vs. Hg/HgSO4) in lead-acid battery. In addition, nano-Pb can improve the interfacial compatibility between AC and Pb paste, accordingly relieve the symptoms of carbon floatation. Finally, 2.0 V single-cell flooded lead-acid batteries with 1.0 wt.% nano-Pb/AC or 1.0 wt.% AC addition in negative active materials are assembled. The cell performances test results show that the 3 h rate capacity, quick charging performance, high current discharging performance and cycling performance of nano-Pb/AC modified battery are all improved compared with regular lead-acid battery and AC modified lead-acid battery.