Transition metal oxides have received great attention for boosting the performances for lithium-ion batteries and oxygen evolution reaction (OER). Here, hollow Co3O4 nanoparticles encapsulated in reduced graphene oxide (rGO) (h-Co3O4@rGO) were synthesized through a two-step annealing process of graphene oxide wrapped zeolitic imidazolate framework-67 (ZIF-67@GO) precursors. By taking advantage of the enhanced conductivity, high dispersity, high surface area, and unique hollow morphology derived from the GO-wrapped protecting annealing strategy, the as-synthesized h-Co3O4@rGO composite not only exhibits a reversible capacity as high as 1154.2 mAh g(-1) at 500 mA g(-1) after 100 cycles and high rate performance (746 mAh g(-1) at 3000 mA g(-1)) but also displays superior OER performance with an overpotential of 300 mV to obtain 10 mA cm(-2).