Recently, applications for lithium-ion batteries (LIBs) have expanded to include electric vehicles and electric energy storage systems, extending beyond power sources for portable electronic devices. The power sources of these flexible electronic devices require the creation of thin, light, and flexible power supply devices such as flexile electrolytes/insulators, electrode materials, current collectors, and batteries that play an important role in packaging. Demand will require the progress of modern electrode materials with high capacity, rate capability, cycle stability, electrical conductivity, and mechanical flexibility for the time to come. The integration of high electrical conductivity and flexible buckypaper (oxidized Multi-walled carbon nanotubes (MWCNTs) film) and high theoretical capacity silicon materials are effective for obtaining superior high-energy-density and flexible electrode materials. Therefore, this study focuses on improving the high-capacity, capability-cycling stability of the thin-film Si buckypaper free-standing electrodes for lightweight and flexible energy-supply devices. First, buckypaper (oxidized MWCNTs) was prepared by assembling a free stand-alone electrode, and electrical conductivity tests confirmed that the buckypaper has sufficient electrical conductivity (10−4(S m−1) in LIBs) to operate simultaneously with a current collector. Subsequently, silicon was deposited on the buckypaper via magnetron sputtering. Next, the thin-film Si buckypaper freestanding electrodes were heat-treated at 600 °C in a vacuum, which improved their electrochemical performance significantly. Electrochemical results demonstrated that the electrode capacity can be increased by 27/26 and 95/93 μAh in unheated and heated buckypaper current collectors, respectively. The measured discharge/charge capacities of the USi_HBP electrode were 108/106 μAh after 100 cycles, corresponding to a Coulombic efficiency of 98.1%, whereas the HSi_HBP electrode indicated a discharge/charge capacity of 193/192 μAh at the 100th cycle, corresponding to a capacity retention of 99.5%. In particular, the HSi_HBP electrode can decrease the capacity by less than 1.5% compared with the value of the first cycle after 100 cycles, demonstrating excellent electrochemical stability.