By virtue of the high theoretical capacity of Si, Si-related materials have been developed as promising anode candidates for high-energy-density batteries. During repeated charge/discharge cycling, however, severe volumetric variation induces the pulverization and peeling of active components, causing rapid capacity decay and even development stagnation in high-capacity batteries. In this study, the Si/Fe2O3-anchored rGO framework was prepared by introducing ball milling into a melt spinning and dealloying process. As the Li-ion battery (LIB) anode, it presents a high reversible capacity of 1744.5 mAh g−1 at 200 mA g−1 after 200 cycles and 889.4 mAh g−1 at 5 A g−1 after 500 cycles. The outstanding electrochemical performance is due to the three-dimensional cross-linked porous framework with a high specific surface area, which is helpful to the transmission of ions and electrons. Moreover, with the cooperation of rGO, the volume expansion of Si is effectively alleviated, thus improving cycling stability. The work provides insights for the design and preparation of Si-based materials for high-performance LIB applications.