Lithium‐ion batteries are essential mobile power sources for portable devices and energy supplies. Among the various cathode materials, cobalt oxides are the most important materials used in lithium‐ion batteries. But the intrinsic drawbacks of cobalt oxides restrict their wide application. In this paper, we present an overview of current approaches to improve the electrochemical performance of the cathode materials, as well as the capacity and cycling capability of the lithium‐ion batteries.