Here, we report the synthesis route of LaCoO3 and nanocomposite with reduced graphene oxide (rGO) via solvothermal approach. The study of structural phase, phase purity, surface oxidation states, morphological, and electrochemical properties of synthesized materials is performed via various techniques: X-ray diffraction, high-resolution transmission electron microscope, scanning electron microscope, and Potentiostat SP-150, etc. It is evident from the various results obtained that the oxygen vacancy and nanocomposite enhance the electrical conductivity and ion/electron transfer leading to fast charge storage mechanism that, in turn, significantly enhances the electrochemical performance. The electrode designed of pristine LaCoO3 delivered the specific capacitance of 225 F/g in comparison of nanocomposite LaCoO3/rGO electrode as 317 F/g at current density of 1.75 A/g and exhibited remarkable cycle life retention 95% and 96% after 1000 life charging discharging cycles, respectively. Furthermore, the designed asymmetric supercapacitor delivered the specific capacitance up to 38 F/g at current density of 2 A/g and held 76% retention after 5000 charging discharging cycles. The remarkable performance of nanocomposite materials indicates its propitious candidature for next-generation energy storage by overcoming the dependency on spinel-type structure material. [ABSTRACT FROM AUTHOR]