Lead lithium titanium oxide with the composition PbLi2Ti6O14 has been successfully synthesized by the rheological phase reaction method and exhibited excellent electrochemical properties as an anode material for lithium ion batteries. The results show that PbLi2Ti6O14 with a three-dimensional network could reversibly accommodate about four lithium ions (146.4 mAh g−1) per unit formula along with the partial reduction of Ti4+ to Ti3+, and the multiple steps of lithium insertion during the cycling process were explained from crystallographic view point. Moreover, when the load current density was increased from 100 to 200, to 400, and then to 800 mA g−1, the corresponding charge capacity was 134.8, 119.6, 103.7, and 86.3 mAh g−1, respectively, and the capacity recovered to 128.7 mAh g−1 if the current density was returned to 100 mA g−1. Thus, the PbLi2Ti6O14, with certain specific capacity, excellent cycling performance and rate capability, can be used as a promising anode material for lithium ion battery applications.