Using Rietveld-refined X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FTIR) and electrochemical cycling, it was established that among sodium vanadium fluorophosphate compositions Na 1+y VPO 4 F 1+y (0 ≤ y ≤ 0.75), the single-phase material Na 1.5 VPO 4 F 1.5 or Na 3 V 2 (PO 4 ) 2 F 3 with a tetragonal structure (the P4 2 /mnm S.G.) is formed only for y = 0.5. The samples with y < 0.5 and y > 0.5 possessed different impurity phases. Na 3 V 2 (PO 4 ) 2 F 3 could be considered as a multifunctional cathode material for the fabrication of lithium-ion and sodium-ion high-energy batteries. The reversible discharge capacity of 116 mAh·g −1 was achieved upon cycling Na 3 V 2 (PO 4 ) 2 F 3 in a hybrid Na/Li cell. Decrease in discharge capacity for the other samples was in accordance with the amount of the electrochemically active phase Na 3 V 2 (PO 4 ) 2 F 3 . Na 3 V 2 (PO 4 ) 2 F 3 showed good cycleability and a high rate of performance, presumably due to operation in the mixed Na/Li electrolyte. The study of the structure and composition of charged and discharged samples, and the analysis of differential capacity curves showed a negligible Na/Li electrochemical exchange, and a predominant sodium-based cathode reaction. To increase the degree of the Na/Li electrochemical exchange in Na 3 V 2 (PO 4 ) 2 F 3 , it needs to be desodiated first in a Na cell, and then cycled in a lithium cell. In this case, the electrolyte would be enriched with the Li ions.