A carbon rich coordination polymer, [Co(fa)(bpy)] n (1), based on formic acid (fa) and an auxiliary ligand 4,4`-bipyridine (bpy) is utilized as a single source precursor to an exceptional lithium-ion battery electrode material. Compound 1 consists of cobalt-formate chains connected via bipyridine ligands into a three dimensional lattice. A cobalt-oxide/carbon composite material is obtained by the controlled carbonization of 1 at 900 °C. Morphological, structural, and chemical analysis of the composite is carried out with HR-TEM, XPS and PXRD techniques. This new composite material demonstrates a high specific capacity of 1080 mAhg-1 , a coulombic efficiency of 94%, and a stable cyclic retention for upto 30 cycles. The electrochemical properties of this new material are discussed in relation to the structural and chemical characteristics of precursor dependence of the carbonized hybrid nanomaterial.