The low conductivity, specific capacity, and stability of metal–organic frameworks (MOFs) pose significant challenges for their practical application in energy storage devices. This is being overcome by synthesizing their unique variants and composites with other energy storage materials. In this wake, we have synthesized CoLa2O4 via the hydrothermal method for doping in hydrothermally synthesized V-Ag-MOF. Various characterization techniques like SEM, XRD, XPS, BET, and BJH were utilized to investigate the morphological, structural, and compositional properties of the CoLa2O4/V-Ag-MOF composite in detail. When evaluated at 3 mVs−1, the hybrid CoLa2O4/V-Ag-MOF electrode, benefitting from the synergetic effects of both materials performed remarkably well exhibiting an exceptional Qs of 1,313 Cg−1. For the real device testing, the CoLa2O4/V-Ag-MOF//AC demonstrated a specific capacity of 373.5 Cg−1 at 1.1 Ag−1. Moreover, the hybrid supercapacitor device obtained an outstanding energy density (Ed), measuring 83.1 Wh kg−1, and an impressive maximum power density (Pd) of 4160 W kg−1. Furthermore, the CoLa2O4/V-Ag-MOF nanocomposite electrode is also used as an electrochemical sensor to detect the H2O2 up to a small level of 1 H2O2 mm−1 with high accuracy. The material CoLa2O4/V-Ag-MOF also exhibited impressive catalytic performance by revealing the lowest overpotential of 43 mV and a Tofel slope of 39 mV dec-1 during HER application. The multifunctional CoLa2O4/V-Ag-MOF nanocomposite electrode material has the potential to offer novel ideas for hybrid energy storage as well as bio-sensing and hydrogen evolution devices.