We generated multilayer black phosphorus (MBP) as a precipitate in centrifugation under 3000 rpm for 25 min, preceded by liquid exfoliation, in which saturated sodium hydroxide (NaOH(s)) was added as an exfoliation auxiliary. The MBP exfoliated with NaOH(s) was characterized by scanning electron microscope, energy dispersive x-ray detector, x-ray diffraction, x-ray photoelectron spectroscopy and Fourier transform infrared spectroscopy. Its electrochemical performance was investigated by cyclic voltammetry, charge/discharge and electrochemical impedance spectroscopy. It was found that the appropriate amount of NaOH(s) can make MBP present a ladder-shaped structure or plackets on the layer edge, which may provide more active sites and channels for charge storage to improve its electrochemical performance. The specific capacitance of MBP samples exfoliated with appropriate amounts of NaOH(s) can quickly enter a relatively stable range of 110–90 F/g after the 75th cycle, and finally stabilize at about 90 F/g after thousands of cycles under the current density of 2 A/g, which demonstrates their good stability in the range of long charge/discharge cycles. MBP exhibits double-layer capacitance properties.