In order to explore high efficiency microwave absorption materials, heteronanostructured Co@carbon nanotubes-graphene (Co@CNTs-G) ternary hybrids were designed and produced through catalytic decomposition of acetylene at the designed temperature (400, 450, 500 and 550 °C) over Co3O4/reduced graphene oxide (Co3O4/RGO). By regulating the reaction temperatures, different CNT contents of Co@CNTs-G ternary hybrids could be synthesized. The investigations indicated that the as-prepared heteronanostructured Co@CNTs-G ternary hybrids exhibited excellent microwave absorption properties, and their electromagnetic and microwave absorption properties could be tuned by the CNT content. The minimum reflection loss (RL) value reached approximately -65.6, -58.1, -41.1 and -47.5 dB for the ternary hybrids synthesized at 400, 450, 500 and 550 °C, respectively. And RL values below -20 dB (99% of electromagnetic wave attenuation) could be obtained over the as-prepared Co@CNTs-G ternary hybrids in the large frequency range. Moreover, based on the obtained results, the possible enhanced microwave absorption mechanisms were discussed in details. Therefore, a simple approach was proposed to explore the high performance microwave absorbing materials as well as to expand the application field of graphene-based materials.