Direct growth of nanostructured trimetallic oxide on substrate is considered as one of the promising electrode fabrication for high-performance hybrid supercapacitors. Herein, binder-free one-dimensional grass-like nanostructure was constructed on nickel foam by using electrodeposition approach. The admirable enhancement in rate capability was observed by the substitution of Mg and Ni in cobalt oxide crystallite. The prepared nickel cobalt oxide (NCO) and cobalt oxide (CO) electrode exhibited a rate capability of 57% and 58% (2 to 10 A g−1) respectively. Interestingly, the rate capability was increased to 87% by the substitution of Mg and Ni simultaneously. The novel vertically aligned trimetallic Mg-Ni-Co oxide (MNCO) grass-like nanostructure electrode exhibited a high specific capacity of 846 C g−1 at 2 A g−1, retained 97.3% specific capacity and showed an outstanding coulombic efficiency of 99% after 10,000 charge–discharge cycles. Moreover, we assembled hybrid supercapacitor (HSC) device for practical applications by using MNCO and activated carbon (AC) as the positive and negative electrode materials, respectively. HSC device exhibited a high specific capacity of 144 C g−1 at 0.5 A g−1. The high energy density of 31.5 Wh kg−1 and the power density of 7.99 kW kg−1 were achieved. All these interesting and attractive results demonstrate the significance of the vertically aligned electrode material towards practical applications.