Pure Bi2O3, 5 % Sn/Fe codoped Bi2O3, Graphene Oxide (GO) based Pure, and 5 % Sn/Fe codoped Bi2O3 nanocomposite are synthesized using a hydrothermal method. The synthesized material is comprehensively characterized to investigate its crystallographic, morphological, magnetic, and surface properties. Our findings reveal that the GO-based 5 % Sn/Fe co-doped Bi2O3 exhibits an exceptional capacitance of 1302.5 F/g. This remarkable capacitance enhancement can be attributed to a combination of factors, including changes in crystalline size, enhanced magnetization properties, an increase in surface area (170.86 m2/g), the introduction of defects in the material's structure, as well as low value of charge transfer resistance (0.3817 Ω) which indicates exceptional conductivity of the material. GO-based 5 % Sn/Fe co-doped Bi2O3 illustrates remarkable cycle stability with a retention rate of 81 % after 2000 cycles. The findings from this research provide evidence that GO-based Sn/Fe co-doped Bi2O3 is a material with outstanding prospects for high-performance energy storage applications, especially in supercapacitors. The combined effects of GO inclusion and co-doping provide new opportunities for the development of novel electrode materials with improved electrochemical characteristics.