We report the enhancement of the photocatalytic performance of CO2 reduction in H2O by introducing Co and reduced graphene (rGO) into TiO2 photocatalyst. The synthesized nanocomposites were characterized by a range of analyses including X-ray diffraction (XRD), scanning electron microscope (SEM), transmission electron microscope (TEM), ultraviolet–visible light diffuse reflectance spectra (UV–vis DRS), Fourier transform infra-red spectroscopy (FT-IR), thermogravimetry-differential scanning calorimetry (TGA-DSC), energy dispersive X-ray analysis (EDX), Brunauer-Emmett-Teller (BET) surface area and X-ray photoelectron spectroscopy (XPS). It was found that wrapping Co-doped TiO2 with rGO expanded the light absorption ability of Co-doped TiO2/rGO, thus, improving the photoreduction efficiency of CO2 and selectivity for methanol. The conversion yields of CO2 to methanol with TiO2, Co-doped TiO2 and Co-doped TiO2/rGO reached 32.3 μmol/gcat, 730 μmol/gcat and 936 μmol/gcat, respectively, after 7 h of irradiation. Theoretical studies via Density functional theory (DFT) revealed that doping TiO2 with Co ions facilitated the formation of adsorbed carbonate or CO2•- species, as CO2 adsorbs onto Co-doped TiO2 surface with binding energy (BE) of −18.12 kJ/mol. The research will deepen the understanding of mole ratio (Ti:Co) content on the nanocomposites performance and provide new ideas for designing efficient photocatalysts.