Nanomaterials have demonstrated exceptional electrochemical performance in supercapacitor because of their high surface area to volume ratio and excellent electrical properties. Several novel materials such as carbon and metal oxides in the form of nanostructure have been developed by different approaches. The research is underway to optimize electrode properties and develop scalable synthesis process to further enhance the performance. This paper provides the recent research progress in electrodes preparation and their modification for supercapacitor application. The focus is on hybrid electrode composed of different nanostructure of carbon and metal oxides to achieve synergistic effects that enhances remarkable supercapacitance performance. This paper begins with a brief introduction to the supercapacitor and its performance measurement parameters. Next section provides an analysis of the performance of nanostructure materials and impact of their synthesis process on supercapacitor performance.