We report a facile synthesis and characterization of spinel Co3O4 nanostructures on its utilization as electrode material for asymmetric supercapacitors by co-precipitation method. The as-synthesized nanostructure was characterized by X-ray diffraction(XRD),Fourier transform infrared spectroscopy(FTIR) and Scanning electron microscopy(SEM). Electrochemical behaviour of the Co3O4 electrode performance was characterized by cyclic voltammetry(CV) in 1 M KOH electrolyte using a three electrode system. Galvanostatic charge-discharge measurements made on the fabricated asymmetric supercapacitor gave a high specific capacitance of 17.33 F/g at a discharge current density of 0.2 A/g. Moreover, they showed an excellent cycle stability and better capacity retention of 92% after 2000 continuous charge-discharge cycles.