V2O5-doped alpha-Fe2O3 composite nanotubes have been successfully fabricated via a simple one-step electrospinning technique followed by calcination treatment. For the first time, we found that the magnetic properties of the as-prepared samples were significantly dependent on the contents of the dopant. In comparison with pristine alpha-Fe2O3, perfect reversibility, more excellent capacitance and better cycling stability were simultaneously observed for the hybrid metal oxide with an appropriate mass ratio of V2O5 (VFNT1) when it was utilized for supercapacitor electrodes, indicating that the doped alpha-Fe2O3 tubular nanostructures are fairly promising for practical applications not only in magnetic recording but also in the energy storage field.