In the direction of novel energy materials, one area of intense research focus is creating new electrode materials to enhance the electrochemical performance of supercapacitors. Compared to other metal elements, vanadium has numerous valence states (+2 to +5). Materials based on vanadium oxide will show various electrochemical characteristics, which makes choosing the electrode material for a supercapacitor quite convenient. They still have a lot of room to increase the electrochemical performance of their electrode materials, which might be very useful in large-scale commercial supercapacitor applications. This review focuses on effective ways of improving the electrochemical performance of metal-and vanadium oxide-based electrode materials. To develop unique structures with more REDOX active sites, various synthesis approaches have been used, including carbon-based composites and the addition of transition metal cations. Future prospects and difficulties are addressed along with existing research approaches to clarify how advances in these materials can improve the use of supercapacitors.