Development of multifunctional nanocomposites, which are able to serve many purposes effectively in different fields of applications, is an eminent topic to the modern researchers. We have prepared a novel hybrid networking nanostructure with bi-functionality based on graphene (Gr), TiO2 coated multi wall carbon nanotube (Ti@CNT), Fe3O4 and polyaniline (PANI) for its use in microwave absorption and electrochemical devices. The structural and morphological properties of the prepared nanocomposites were determined through different spectral and microscopy techniques. Electrical, magnetic and thermal property was also evaluated for these nanocomposites. The prepared bi-functional nanocomposites showed excellent microwave absorption and the electrochemical property. The addition of PANI also enhanced its performance in both these field of applications due to the formation of conducting network structure. Finally, these nanocomposites can be used separately as broadband microwave absorber and electrode material for supercapacitor applications. (C) 2015 Elsevier Ltd. All rights reserved.