Energy storage systems should address issues such as power fluctuations and rapid charge-discharge; to meet this requirement, CoFe2O4 (CFO) spinel nanoparticles with a suitable electrical conductivity and various redox states are synthesized and used as electrode materials for supercapacitors. In particular, CFO electrodes combined with carbon nanofibers (CNFs) can provide long-term cycling stability by fabricating binder-free three-dimensional electrodes. In this study, CFO-decorated CNFs are prepared by electrospinning and a low-cost hydrothermal method. The effects of heat treatment, such as the activation of CNFs (ACNFs) and calcination of CFO-decorated CNFs (C-CFO/ACNFs), are investigated. The C-CFO/ACNF electrode exhibits a high specific capacitance of 142.9 F/g at a scan rate of 5 mV/s and superior rate capability of 77.6% capacitance retention at a high scan rate of 500 mV/s. This electrode also achieves the lowest charge transfer resistance of 0.0063 Ω and excellent cycling stability (93.5% retention after 5,000 cycles) because of the improved ion conductivity by pathway formation and structural stability. The results of our work are expected to open a new route for manufacturing hybrid capacitor electrodes containing the C-CFO/ACNF electrode that can be easily prepared with a low-cost and simple process with enhanced electrochemical performance.