Nickel iron spinel/reduced graphene oxide composite material was synthesized by simultaneous hydrothermal treatment of nickel and ferric nitrates and graphene oxide colloidal solution obtained using Hummers method. XRD, SEM, Mossbauer spectroscopy, impedance spectroscopy and low temperature nitrogen adsorption were used for materials characterization. The electrical conductivity mechanisms for pure nickel ferrite, reduced graphene oxide and nickel iron spinel/reduced graphene oxide composite were investigated with the determination of activation energy values. Synchronous hydrothermal synthesis of nickel ferrite and the reduction of graphene oxide allow obtaining novel functional material that consists of oxide nanoparticles spaced by carbon fragments.