The mechanical alloying process is a promising method for synthesizing electrode materials for batteries owing to its benefits such as the ability to produce nanostructured, high-performing electrode alloys, no adverse effects on the solid electrolyte for solid-state batteries, stable production of thick electrodes, simple processing steps, and low processing costs. It is gaining intensive attention in the battery industry as one of the best methods to replace the conventional wet-slurry-solvent method, and its application is rapidly increasing these days. However, the operation is currently conducted purely based on trial-and-error methods without fully utilizing the features of its functions. This may be attributed to a lack of understanding of the effect of operating parameters on the alloying process and final products. Surprisingly, there is a scarcity of the literature conducting fundamental research to comprehend the underlying physics of the entire mechanical alloying process, resulting in a significant knowledge gap. To address this knowledge gap, extensive research was conducted. The existing literature on mechanical alloying was reviewed to comprehend the current state of understanding and to discuss the direction for future research. Mathematical expressions were developed to create physics-based models capable of capturing the entire mechanical alloying process, including milling kinetics and defect-enhanced phase evolution. These methods were then applied to investigate the impact of operating parameters such as milling frequency, initial mole ratio of the alloyed materials, density of grinding balls, and energy required for the powders to become amorphous (i.e., the amorphization energy threshold). This research aimed not only to comprehend the direct effects of these operating parameters but also to unveil the physics underlying the ball-milling process. The results of our study can serve as crucial information for the battery industry in designing or operating the ball-milling process.