Hematite (α-Fe2O3) nanomaterials have been investigated intensively as a promising anode material for Li-ion batteries due to their advantages such as high theoretical capacity, low cost, environmental friendliness, high resistance to corrosion, etc. However, their practical application is hampered by poor capacity retention, low Coulombic efficiency, and poor high-rate capacity. To overcome these drawbacks, many effective works have been proposed. This review focuses first on the present status of α-Fe2O3 nanomaterials in the field of Li-ion batteries including their features, synthesized methods, modification, application and then on their near future development.