Fe3O4 with acid functionalized multiwalled carbon nanotubes (f‐MWCNTs) was synthesized using a simple ultrasonic‐assisted co‐precipitation method. The structural, morphological, and elemental composition of the composite material were determined using P‐XRD, FT‐IR, SEM‐EDS, and BET analysis. The electrochemical properties of the composite were analysed by CV, CP and EIS techniques. In a three‐electrode system setup, a specific capacitance (Cs) of 509 Fg−1 at 2 mVs−1 and 116 Fg−1 at 2.5 Ag−1 was achieved in 1 M KOH solution. The composite material was utilized in the design of a symmetric supercapacitor coin cell (CR2032) device. The coin cell exhibited Cs of 49 Fg−1 at 2 mVs−1 (0 to 1.8 V) and 19.2 Fg−1 at 1 Ag−1 (0 to 1.75 V) in 1 M KOH electrolyte, with a Cs retention of 80 % at the end of 25,000 charge‐discharge cycles at a high current density of 20 Ag−1. The coin cell demonstrated a maximum energy density of 8.2 Whkg−1 and power density of 17.5 kWkg−1. This study highlights an inexpensive, environmentally benign hybrid supercapacitor composite material synthesized by a facile method as a promising candidate for high‐performance supercapacitor applications.