Transition metal oxide-based materials have mainly been studied as electrodes for energy storage devices designed to meet essential energy demands. Among transition metal oxide-based materials, hydrated vanadium pentoxide (V2O5 ‧ nH2O), a vanadium oxide material, has demonstrated great electrochemical performance in the electrodes of energy storage devices. Graphene oxide (GO), a carbon-based material with high surface area and high electrical conductivity, has been added to V2O5 ‧ nH2O to compensate for its low electrical conductivity and structural instability. Here, V2O5 ‧ nH2O/GO nanobelts are manufactured with water without adding acid to ensure that the GO is uniformly dispersed, using a microwave-assisted hydrothermal synthesis. The resulting V2O5 ‧ nH2O/GO nanobelts exhibited a high specific capacitance of 206 F/g and more stable cycling performance than V2O5 ‧ nH2O without GO. The drying conditions of the carbon paper electrodes also resulted in more stable cycling performance when conducted at high vacuum and high temperature, compared with low vacuum and room temperature conditions. The improvement in electrochemical performance due to the addition of GO and the drying conditions of carbon paper electrodes indicate their great potential value as electrodes in energy storage devices.