If you are planning to go from New Delhi than you can follow any of following itinerary.
1. Via Train
NZM to Khajuraho by UP/Khajuraho sampark kranti Express. Depart NZM 20:10 and arrive at kKajuraho at 6:30 next day. One whole day is sufficient to see Khajuraho and you can come back to Delhi by same train. Depart Khajuraho 18:15 and reach Delhi at 5:30.
2. Via Air
Del to Khajuraho by flight you can reach there in afternoon and need whole day to explore and return next day to New Delhi.