Among all the known electrode materials, vanadium pentoxide (V2O5) has high reversible capacity. It is a very valuable material for research of the complexity, rich structure and morphology. However, it also has some disadvantages, such as poor cycle stability, low discharge voltage, low conductivity and Li+ diffusion coefficient. In this regard, researchers have carried out a lot of research, such as using various methods to improve the nanostructures, introducing heterostructures, introducing point defects or cation doping in the crystal structure, etc. The electrochemical performance of V2O5 has been significantly improved in reversible capacity, high-rate capacity and long-term cycle stability. In this paper, V2O5 based nanostructure with different chemical composition are briefly introduced, and it covers V2O5 nanomaterials with different morphology, including 1D nanorods, nanobelts, nanotubes, 2D leaf like nanosheets and other nanosheets, and 3D hollow structures, porous nanostructures, porous eggshell microsphere structures. The composite nanomaterials of V2O5 and different carbonaceous supports are also introduced. Finally, the V2O5 composite materials doped with cations are discussed. The electrochemical performance of V2O5 based electrode can be improved effectively by obtaining appropriate nanostructure and optimized chemical composition.