This paper reports on the synthesis of Co3O4@graphene composites (CGC) and their applications as anode materials in lithium ion batteries (LIBs). Through a chemical deposition method, Co3O4 nanoparticles (NPs) with sizes in the range of 10-30 nm were homogeneously dispersed onto graphene sheets. Due to their high electrical conductivity, the graphene sheets in the CGC improved the electrical conductivity and the structure stability of CGC. CGC displayed a superior performance in LIBs with a large reversible capacity value of 941 mA hg(-1) in the initial cycle with a large current density and an excellent cyclic performance of 740 mA hg(-1) after 60 cycles, corresponding to 88.3% of the theoretical value of CGC, owing to the interactions between graphene sheets and Co3O4 NPs anchored on the graphene sheets. This synthesis approach may find its application in the design and synthesis of novel electrode materials used in LIBs.