The effective chemical modification and self-assembly of diamond-based hierarchical composite materials are of key importance for a broad range of diamond applications. Herein, we report the preparation of novel core-shell diamond-based nanocomposites for dye adsorption toward wastewater treatment through a layer-by-layer (LbL) assembled strategy. The synthesis of the reported composites began with the carboxyl functionalization of microdiamond by the chemical modification of diamond@graphene oxide composite through the oxidation of diamond@graphite. The carboxyl-terminated microdiamond was then alternatively immersed in the aqueous solution of amine-containing polyethylenimine and carboxyl-containing poly acrylic acid, which led to the formation of adsorption layer on diamond surface. Alternating (self-limiting) immersions in the solutions of the amine-containing and carboxyl-containing polymers were continued until the desired number of shell layers were formed around the microdiamond. The obtained core-shell nanocomposites were successfully synthesized and characterized by morphological and spectral techniques, demonstrating higher surface areas and mesoporous structures for good dye adsorption capacities than nonporous solid diamond particles. The LbL-assembled core-shell nanocomposites thus obtained demonstrated great adsorption capacity by using two model dyes as pollutants for wastewater treatment. Therefore, the present work on LbL-assembled diamond-based composites provides new alternatives for developing diamond hybrids as well as nanomaterials towards wastewater treatment applications.