In this study, a very simple and highly effective mechanochemical preparation method was developed for the preparation of Ni nanoparticles supported graphene oxide (GO) nanocomposites (Ni/GO, where Ni is a composition of Ni(OH)2, NiOOH, NiO, Ni2O3 and NiO2), 3 wt% NiO/GO (Ni/GO-1) and 8 wt% NiO/GO(Ni/GO-2). The developed method is not only very simple and efficient, but also, the morphology of Ni/GO nanocomposites can be tuned by simply varying the metal loading. Morphology and specific surface area of the resultant Ni/GO nanocomposites were investigated by mean of AFM, HR-TEM and BET. Chemical sate and factual content of Ni in Ni/GO-1 and Ni/GO-2, and the presence of defective sites in Ni-nanocomposites were investigated in detail. To our delight, the prepared Ni/GO-2 demonstrated superior catalytic activity toward the reduction of 2- and 4-nitrophenol in water with high rate constant (kapp) of 35.4 × 10−3 s−1. To the best of our knowledge, this is the best efficient Ni-based graphene nanocomposites for the reduction of 2- and 4-NP reported to date. The Ni/GO-1 and Ni/GO-2 demonstrated an excellent reusability; no loss in its catalytic activity was noticed, even after 10th cycle. Surprisingly the Ni/GO-2 as electrode material exhibited an excellent specific capacitance of 461 F/g in 6 M KOH at a scan rate of 5 mV. Moreover, the Ni/GO nanocomposites were found to possess poor electrical resistance and high stability (no significant change in the specific capacitance even after 1000 cycles).