In this study, we successfully synthesize CoCr2O4/C composite (CCO/CB) as novel anode materials for Li-ion batteries by using hydrothermal reaction and high energy ball milling technique. The crystal structure and surface morphologies of as-prepared samples are carried out by X-ray diffraction (XRD), scanning electronic microscopy (SEM) and high resolution transmission electron microscopy (HRTEM). The electrochemical results showed that the initial reversible capacity of CoCr2O4 and CCO/CB-7:3 samples are 582 mAh/g and 1189 mAh/g at a current density of 0.1 A/g, respectively. After cycling for 50 cycles at 0.2 A/g, CCO/CB-7:3 reach reversible capacity of as high as 1058 mAh/g. Bare CoCr2O4, however, deliver reversible capacity of only 699 mAh/g. Furthermore, CCO/CB-7:3 also exhibits superior rate capability that of CCO at different current densities from 0.1 to 5 A/g. In addition, the reaction mechanism of CoCr2O4 during charge and discharge process are identified by ex-situ XRD and HRTEM measurements. These results indicate that CCO/CB-7:3 is a novel and potential candidate as an anode material for Li-ion batteries.