The practical application of Li-S battery is inherently limited by the low conductivity of sulphur and the dissolution of polysulfides. The enhancement of conductivity and introduction of polarity to sulphur host is an effective strategy to overcome this long-standing challenges. In this work, a facile one-step carbonizing process is used to synthesize a unique porous and conductive nanocomposite where Fe 3 C nanoparitcles is embedded in nitrogen-doped porous carbon sheets (Fe 3 C@NPCS). As demonstrated in Li 2 S 4 adsorption experiments and confirmed by density functional theory calculations, Fe 3 C nanoparticles are able to strongly adsorb polysulfides via strong Fe-S chemical bonds. Due to the remarkable conductivity, Fe 3 C nanoparticles can also accelerate the electrochemical reactions of the polysulfides through fast electron transportation. The carbon sheets prevent the aggregation of Fe 3 C nanoparticles in the synthesis, and accommodate sulfur and its volume expansion during charge/discharge. With these features, the resultant sulfur cathodes (Fe 3 C@NPCS-S) deliver an excellent cycling performance with a capacity decay of 0.036% per cycle, and high rate performance of ca. 1127, 1020, 907, 802, 731 and 647 mAh g-1 under the current density of 0.3, 0.5, 1, 2, 3 and 5 Crate , respectively.