This paper presents the experimental methodology of identifying the most suitable Poly 3,4-Ethylene Dioxy Thiophene (PEDOT) based hybrid nanocomposite for neural electrode applications. The key requirement for such electrodes is high charge storage capacity, which enables generation of activation potential without crossing pain threshold. Nanomaterials are key enablers for this high charge storage capacity. Hence hybrid nanocomposites of PEDOT doped with a wide range of nanomaterials such as multi walled carbon nanotubes (MWCNTs), graphene nano platelets (GNPs) graphene oxide (GO), functionalized multi walled carbon nanotubes (FMWCNTs) were prepared and characterized using cyclic voltammetry (CV) and electrochemical impedance spectroscopy (EIS). The results indicate that the prepared PEDOT/FMWCNTs nanocomposite has highest charge storage capacity and very low interface impedance and thus is the most suitable material for neural electrode applications.