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The results of density functional theory (DFT) calculations and measurements of X-ray photoelectron (XPS) and X-ray emission (XES) spectra of Co-nanoparticles dispersed on graphene/Cu composites are presented. It is found that for 0.02nm and 0.06nm Co coverage the Co atoms form islands which are strongly oxidized under exposure at the air. For Co (2nm) coverage the upper Co-layers is oxidized whereas the lower layers contacting with graphene is in metallic state. Therefore Co (2 nm) coverage induces the formation of protective oxide layer providing the ferromagnetic properties of Co nanoparticles which can be used as spin filters in spintronics devices.2