Reduced graphene oxide (rGO) hybridized with magnetite and/or elemental silver (rGO/magnetite, rGO/silver, and rGO/magnetite/silver) nanoparticles were evaluated as potential adsorbents for toxic heavy metal ions (Cd (II), Ni(II), Zn(II), Co(II), Pb(II), and Cu(II)). Although the deposition of iron oxide and silver nanoparticles on the rGO nanosheets played an inhibitory role in metal ion adsorption, the metal adsorption efficiency by the nanohybrids (NHs) was still higher than that reported for many other sorbents (e.g., activated biochar, commercial resins, and nanosized hydrated Zr(IV) oxide particles). X-ray photoelectron spectroscopy analyses revealed that complexation with deprotonated adsorbents and cation exchange was an important mechanism for Cd(II) ion removal by the rGO and NHs. Competitive adsorption tests using multi metals showed that the adsorption affinity of metal ions on the rGO and its NHs follows the order (Cu(II), Zn(II)) > Ni(II) > Co (II) > (Pb(II), Cd(II)), which is similar to the order observed for single-metal adsorption experiments. These results can be explained by the destabilization abilities of the rGO and NHs, as well as the ionic radii of the considered metal ions. Our findings demonstrate the feasibility of using rGO-based NHs as highly efficient adsorbents for heavy metal removal from water.