A novel hierarchical Bi₈V₂O₁₇ framwork with Bi:V ratio of 4:1 encapsulated in flexible carbon nanotube-interwoven graphene hybrid membrane (Bi₈V₂O₁₇@rGO/CNTs) is constructed through a facile filtration and a following thermal reduction course. Characterization results demonstrate that nanoflake-assembled Bi₈V₂O₁₇ microflowers are intimately encapsulated into a 3D disordered network structure with certain elasticity ascribed to layered graphene and CNTs. Electrochemical measurements show that the hybrid membrane acted as a free-standing binder-free electrode exhibits reversible lithium and sodium storage capabilities with superior electrochemical performance. The modifying effect of rGO/CNTs as carbonaceous materials on the electrochemical performance improvement of Bi₈V₂O₁₇ is studied by density functional theory computations. And the reasons that lithium storage performance of the hybrid membrane electrode is better than that of sodium storage property are elucidated by theoretical calculation. The research provides experimental and theoretical basis to understand the electrochemical performance of Bi₈V₂O₁₇@rGO/CNTs electrode for lithium- and sodium-ion batteries.