Hierarchical electromagnetic wave (EMW) absorption materials with a dielectric-magnetic dual-loss mechanism are promising candidates for highly efficient EMW attenuation. Herein, hierarchical dielectric-magnetic composite hollow carbon fiber@nitrogen-doped carbon/Co (HCF@NC/Co) was successfully synthesized via in situ growth of two-dimensional (2D) Co metal-organic framework (MOF) (ZIF-67) nanosheets on the surface of hollow loofah fiber (HLF), followed by a calcination process, where the aggregation of carbonized MOFs was effectively avoided to construct a homogeneous hierarchical one-dimensional structure. Based on the advantages of the carbon/Co dielectric-magnetic dual-loss mechanism that results in good impedance matching and multiple polarization loss arising from the extensive heterointerfaces (e.g., HCF-NC/Co, air-carbon, nitrogen-carbon, and Co-carbon interfaces), dipole active sites (e.g., doped N, Co particle, and crystalline defects in graphitic carbon), and hierarchical porous structures, optimal EMW absorption performance of HCF@NC/Co is achieved through regulating the calcination temperature and filler content, where the HCF@NC/Co calcinated at 700 °C exhibits a minimum reflection loss (RL) value of -50.14 dB with only 14% filler loading and 2.25 mm thickness, and the maximum effective absorption bandwidth (EAB) also reaches 7.36 GHz. Meanwhile, adjustable EAB can also be achieved by optimizing the sample thickness, making it applicable in a wider frequency region. It is expected that our prepared HCF@NC/Co might shed light on designing lightweight and highly efficient EMW MOF-derived EMW absorbing materials.