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Abstract For the sustainable growth of future generations, energy storage technologies like supercapacitors and batteries are becoming more and more common. However, reliable and high‐performance materials’ design and development is the key for the widespread adoption of batteries and supercapacitors. Quantum dots with fascinating and unusual properties are expected to revolutionize future technologies. However, while the recent discovery of quantum dots honored with a Nobel prize in Chemistry, their benefits for the tenacious problem of energy are not realized yet. In this context, herein, chemical‐composition tuning enabled exceptional performance of NiCo₂O₄(NCO)/graphene quantum dots (GQDs) is reported, which outperform the existing similar materials, in supercapacitors. A comprehensive study is performed on the synthesis, characterization, and electrochemical performance evaluation of highly functional NCO/GQDs in supercapacitors delivering enhanced energy efficiency. The high‐performance, functional NCO/GQDs electrode materials are synthesized by the incorporation of GQDs into NCO. The effect of variable amount of GQDs on the energy performance characteristics of NCO/GQDs in supercapacitors is studied systematically. In‐depth structural and chemical bonding analyses using X‐ray diffraction (XRD) and Raman spectroscopic studies indicate that all the NCO/GQDs composites crystallize in the spinel cubic phase of NiCo₂O₄while graphene integration evident in all the NCO/GQDs. The scanning electron microscopy imaging analysis reveals homogeneously distributed spherical particles with a size distribution of 5–9 nm validating the formation of QDs. The high‐resolution transmission electron microscopy analyses reveal that the NCOQDs are anchored on graphene sheets, which provide a high surface area of 42.27 m²g⁻¹and high mesoporosity for the composition of NCO/GQDs‐10%. In addition to establishing reliable electrical connection to graphene sheets, the NCOQDs provide reliable 3D‐conductive channels for rapid transport throughout the electrode as well as synergistic effects. Chemical‐composition tuning, and optimization yields NCO/GQDs‐10% to deliver the best specific capacitance of 3940 Fg⁻¹at 0.5 Ag⁻¹, where the electrodes retain ≈98% capacitance after 5000 cycles. The NCO/GQD‐10%//AC asymmetric supercapacitor device demonstrates outstanding energy density and power density values of 118.04 Wh kg⁻¹and 798.76 W kg⁻¹, respectively. The NCO/GQDs‐10%//NCO/GQDs‐10% symmetric supercapacitor device delivers excellent energy and power density of 24.30 Wh kg⁻¹and 500 W kg⁻¹, respectively. These results demonstrate and conclude that NCO/GQDs are exceptional and prospective candidates for developing next‐generation high‐performance and sustainable energy storage devices.