The major concern of the modern era is to conserve and store energy for future use because of the continuous depletion of natural resources. Spinel cobaltites have attracted a lot of attention to be studied in the energy storage and conversion arena because of their prospective applications and excellent electrochemical performance. Achieving excellent chemo-mechanically robust electrode materials requires creative structural design and effective multicomponent strategy implementation. Herein, MgCo2O4 (MC) and Ag-MgCo2O4 (AMC) were fabricated by hydrothermal treatment. Further, Ag-MgCo2O4 (AMC) coupling with MXene sheets was accomplished by ultrasonication treatment. After structural, morphological, functional, and compositional analyses, prepared materials were studied for supercapacitor measurements. AMC/MXene exhibited remarkable outcomes because of Ag ions insertion into the spinel oxide structure, providing electron transport paths by creating voids and interfacial contact between the electrolyte and available active sites, and 2D MXene layers boosting the transportation of ions during the charging and discharging stages. The specific capacitance at 1 Ag−1 was found to be 1722 Fg−1 for AMC/MXene. The bulk (solution) resistance Rs was found to be the lowest 0.63 Ω for AMC/MXene among other fabricated materials in this study. Hence, developing AMC/MXene offers an advanced method to build high-performance 2D electrode materials with hybrid structures for energy storage applications.