A process for producing solid nanocomposite particles for lithium metal or lithium ion battery electrode applications is provided. In one preferred embodiment, the process comprises: (A) Preparing an electrode active material in a form of fine particles, rods, wires, fibers, or tubes with a dimension smaller than 1 μm; (B) Preparing separated or isolated nano graphene platelets with a thickness less than 50 nm; (C) Dispersing the nano graphene platelets and the electrode active material in a precursor fluid medium to form a suspension wherein the fluid medium contains a precursor matrix material dispersed or dissolved therein; and (D) Converting the suspension to the solid nanocomposite particles, wherein the precursor matrix material is converted into a protective matrix material reinforced by the nano graphene platelets and the electrode active material is substantially dispersed in the protective matrix material. For a lithium ion battery anode application, the matrix material is preferably amorphous carbon, polymeric carbon, or meso-phase carbon. Such solid nanocomposite particles provide a high anode capacity and good cycling stability. For a cathode application, the resulting lithium metal or lithium ion battery exhibits an exceptionally high cycle life.