By using a surface-modified templating method, Fe203@polypyrrole (PPy) core/shell spindles have been successfully prepared in this paper. The Fe203 particles with spindle morphology were initially fabricated as core materials. After the PVP modification, the Fe2O3 spindles were subsequently coated with a tunable thickness layer of PPy by in situ deposition of the conducting polymer from aqueous solution. Hollow PPy spindles were produced by dissolution of the Fe2O3 core from the core/shell particles. High-temperature treatment under vacuum condition covert the hollow PPy spindles into carbon capsules by carbonization of the PPy shell. Transmission electron microscope (TEM), scanning electron microscopy (SEM), Fourier transform infrared spectroscopy (FTIR), thermal gravimetric analysis (TGA) and X-ray photoelectron spectroscopy (XPS) confirmed the formation of the Fe2O3 @PPY core/shell particles, PPy and carbon capsules with spindle morphology. (c) 2007 Elsevier Inc. All rights reserved.