Lead/lead oxide/carbon (“Pb—O—C”) nanocomposite materials are useful as electrode active materials for electrodes in lithium and sodium batteries. A Pb—O—C nanocomposite as described herein comprises Pb and lead oxide nanoparticles homogeneously dispersed in a carbon nanoparticle matrix. In the nanocomposite, the other element or elements (e.g., transition metals, Al, Si, P, Sn, Sb, and Bi) can be alloyed with the Pb nanoparticles, incorporated as a mixed oxide with the lead oxide nanoparticles, or can be present as distinct elemental or oxide nanoparticles within the carbon nanoparticle matrix. In some embodiments, the additional element or elements are present as alloys and mixed oxides with the Pb materials and as distinct elemental and/or oxide nanoparticles. In a preferred embodiment the Pb nanoparticles surface is oxidized to lead oxide thus creating a shell on core nanostructure.