We demonstrate the design and fabrication of novel hybrid nanoarchitectures using facile coating of ultrathin Ni(OH)2 nanosheets onto α-Fe2O3 nanowire arrays directly grown on Fe foils toward achieving high specific capacitance, high-energy and high power density, and long-term life supercapacitors. Well structured single-crystalline α-Fe2O3 nanowires uniquely served as cores that support redox active high surface area Ni(OH)2 shells and also contribute to specific capacitance as a conventional pseudocapacitive metal oxide. The Ni(OH)2@α-Fe2O3 hybrid composites exhibited excellent rate capability with specific energy of 22.8 Wh/kg and specific power of 16.4 kW/kg at a current density of 54.6 A/g, and excellent long-term cycling stability (keep over 85.7% of the initial specific capacitance after 5000 cycles). These results suggest that such hybrid composite architectures are very promising for the next generation of high-performance supercapacitors.