Usage of supercapacitors in energy storage applications has now become a new trend due to their auspicious features. The introduction of pseudocapacitance has increased its weightage to be used in a greater number of practical applications. Electrodes are the major constituents of a supercapacitor, based on which the electrochemical performance of the supercapacitor is decided. Among the varieties of electrode materials available, transition metal oxides are the most suitable ones to fulfill the required criteria. Due to the occurrence of faradic redox reactions on the surface of electrodes, the selection of efficient and favorable electrode material plays a major role. Co3O4 (cobalt (III) oxide) is one of the most desirable electrode materials due to its various peculiar features. This paper reviews briefly several factors of Co3O4 as electrode material in supercapacitor applications. It includes comparative discussions towards different synthesize methodologies and the influence of its dimensional morphology on the electrochemical outputs like specific capacitance, energy density, and power density.