To satisfy the increasing energy demands of portable electronics, electric vehicles, and miniaturized energy storage devices, improvements to lithium‐ion batteries (LIBs) are required to provide higher energy/power densities and longer cycle lives. Group IVA element (Si, Ge, Sn)‐based alloying/dealloying anodes are promising candidates for use as electrodes in next‐generation LIBs owing to their extremely high gravimetric and volumetric capacities, low working voltages, and natural abundances. However, due to the violent volume changes that occur during lithium‐ion insertion/extraction and the formation of an unstable solid electrolyte interface, the use of Group IVA element‐based anodes in commercial LIBs is still a great challenge. Evaluating the electrochemical performance of an anode in a full‐cell configuration is a key step in investigating the possible application of the active material in LIBs. In this regard, the recent progress and important approaches to overcoming and alleviating the drawbacks of Group IVA element‐based anode materials are reviewed, such as the severe volume variations during cycling and the relatively brittle electrode/electrolyte interface in full‐cell LIBs. Finally, perspectives and future challenges in achieving the practical application of Group IVA element‐based anodes in high‐energy and high‐power‐density LIB systems are proposed.