Graphite as a conventional anode material has been unsuccessful in satisfying the requirements of future high-performance lithium-ion batteries due to its low theoretical specific capacity (372 mAh g−1) and low operating potential (~0.1 V). This has resulted in strong demand for new anode materials with high reversible capacity and stable cycling life. Thus, diverse new anode materials have been proposed as a replacement for graphite in recent years. The novel materials reviewed in this study include transition-metal compounds, silicon-based compounds, and carbon-based compounds. The prospects of these materials in developing high-performance lithium-ion batteries for electric vehicles and large-scale energy storage applications are also highlighted.