Till now, there are no systematic reports on the effect of the quality of thermally reduced graphene oxide (TRG) on lithium storage properties, as the reported methods to fabricate graphene-based electrodes are usually not effective enough to reduce graphene oxides to graphene. Herein, graphite oxide is thermally exfoliated and annealed with a high-temperature graphitization oven at different temperatures (800-2000°C). A series of Fe 3 O 4 /TRG hybrids are synthesized as anode materials for lithium-ion batteries with TRGs acting as substrates of in-situ formed Fe 3 O 4 nanoparticles. Both, the electroconductivity of the TRGs and their interfacial interaction with Fe 3 O 4 influence the lithium storage performances of the hybrids. However, the electroconductivity of the TRGs and the formation of interfacial bonds are conflicting. Because the oxygen-containing groups and defects of TRG are greatly removed leading to enhanced electrical conductivity with the increase of thermal annealing temperature. Hence, the resulting Fe 3 O 4 /TRG hybrids show first decreased then increased electrochemical performances with increasing annealed temperatures. In a word, the effect of interfacial interaction is dominant at a relatively low annealing temperature, while the effect of conductivity is dominant at a relatively high annealing temperature. The optimized hybrids exhibit excellent cycling and rate performances. This work should provide useful information for the rational design and construction of high-performance electrodes for energy storage applications.