The development of high-performance shielding materials against electromagnetic pollution requires mobile charge carriers and magnetic dipoles. Herein, we meet the challenge by building a three-dimensional (3D) nanostructure consisting of chemically modified graphene/Fe3O4(GF) incorporated polyaniline. Intercalated GF was synthesized by the in situ generation of Fe3O4 nanoparticles in a graphene oxide suspension followed by hydrazine reduction, and further in situ polymerization with aniline to form a polyaniline composite. Spectroscopic analysis demonstrates that the presence of GF hybrid structures facilitates strong polarization due to the formation of a solid-state charge-transfer complex between graphene and polyaniline. This provides proper impedance matching and higher dipole interaction, which leads to the high microwave absorption properties. The higher dielectric loss (ε'' = 30) and magnetic loss (μ'' = 0.2) contribute to the microwave absorption value of 26 dB (>99.7% attenuation), which was found to depend on the concentration of GF in the polyaniline matrix. Moreover, the interactions between Fe3O4, graphene and polyaniline are responsible for superior material characteristics, such as excellent environmental (chemical and thermal) degradation stability and good electric conductivity (as high as 260 S m(-1)).