Magnetite (Fe3O4)/carbon core–shell nanotubes have been successfully synthesized by partial reduction of monodispersed hematite (Fe2O3) nanotubes with carbon coating. Fe2O3 is completely converted to Fe3O4 during the reduction process and a thin carbon layer is continuously coated on the surface of Fe3O4 with the nanotube morphology reserved. The Fe3O4/carbon core–shell nanotubes exhibit superior electrochemical properties as anode material for lithium-ion batteries compared with the Fe2O3 and Fe3O4 nanotubes. The Fe3O4/carbon core–shell nanotubes electrode shows a large reversible capacity up to 938 mAh g−1 as well as improved cycling stability and excellent rate capability. The promising anode performance of the Fe3O4/carbon core–shell nanotubes can be attributed to their tubular morphology and continuous carbon coating, which provide improved structural stability and fast charge transport.