A water-soluble conductive binder consisting of poly-3,4- ethylenedioxythiophene:polysterne sulfonate and carboxymethyl cellulose was proposed for conversion Co3O4 anode material. This type of electrode shows ultrahigh specific capacity value and brilliant C-rate capability in comparison with electrode where composition of poly(acrylic acid) and carboxymethyl cellulose was used. It also demonstrates better stability during continuous cycling at 0.2 C. Long-term cycling voltammetry measurements show that using of conducting polymer as binder component lead to superior stability of the Co3O4 electrodes.