Metal-organic framework (MOF) based synthesis of battery electrodes has presently become a hot topic of significant research interest. Considering the complications to prepare Co₃V₂O₈ due to the criticality of its stoichiometric composition, we report here by a simple MOF formation by solvothermal technique followed by air annealing to synthesize Co₃V₂O₈ for use as potential anodes for lithium battery applications. Structrual investigations by X-ray diffraction, X-ray photoelectron spectroscopy, high resolution electron microscopy, and surface area studies revealed that the phase pure Co₃V₂O₈ nanoparticles are inter connected to form a sponge-like morphology with porous properties. Electrochemical measurements exposed the excellent lithium storage (~ 1000 mAhg^-1 at 200 mAg^-1) and retention properties (500 mAhg^-1 at 1000 mAg^-1 after 700 cycles) of the prepared Co₃V₂O₈ electrode. A notable rate performance of 430 mAhg^-1 at 3200 mAg^-1 was also observed and  ex-situ analysis confirmed the morphological and structural stability of this material after long cycles performance. These  results validate that the unique nanostructured morphology arising from the use of the ordered array of MOF networks is favorable for improving the cyclability and rate capability in battery electrodes. The synthetic strategy presented herein may provide solutions to develop phase pure mixed metal oxides for high performance electrodes for useful energy storage applications.