Recent works show the promise for lithium tetrafluoroborate (LiBF4) as an electrolyte salt for lithium‐ion batteries. In this paper, LiBF4 is synthesized by a novel reaction between the as‐prepared anhydrous Li2SO3 and (C2H5)2O⋅BF3 in an aprotic solvent. The moisture sensitivity and water‐removing method of LiBF4 materials which has been dried under vacuum for 2 h at different temperature, is studied by Fourier transform infrared spectroscopy measurements. Results show that almost all of the adsorbed water would be removed at above 65 °C. With the increase of drying temperature, crystal water will decrease slowly, and almost disappear completely at 170 °C. However, due to the thermal decomposition of LiBF4, LiF and BF2OH impurities are formed as the temperature reaches 165 °C. So, we determine that the proper drying temperature is 155 °C, though the trace water cannot be removed thoroughly. Besides, influences of trace water on the electrochemical performance of Li/MCMB half‐cell with LiBF4 as electrolyte salt has been investigated. Results show that discharge plateaus at about 1.5 V vs. Li/Li+ will be lengthened with the increase of water content. Subsequently, the so‐called solid‐electrolyte interphase (SEI) film will become thicker and more resistant, which leads to poor Li+ ion migration and bad cycling performance.