Lithium-ion batteries (LIBs) have been widely used in many fields such as portable electronics and electric vehicles since their successful commercialization in the 1990s. However, the electrochemical performance of current commercial LIBs still needs to be further improved to meet the continuously increasing demands for energy storage applications. Recently, tremendous research efforts have been made in developing next-generation LIBs with enhanced electrochemical performance. In this review, we mainly focus on the recent progress of LIBs with high electrochemical performance from four aspects, including cathode materials, anode materials, electrolyte, and separators. We discuss not only the commercial electrode materials (LiCoO2, LiFePO4, LiMn2O4, LiNi x Mn y Co z O2, LiNi x Co y Al z O2, and graphite) but also other promising next-generation materials such as Li-, Mn-rich layered oxides, organic cathode materials, Si, and Li metal. For each type of materials, we highlight their problems and corresponding strategies to enhance their electrochemical performance. Nowadays, one of the key challenges to construct high-performance LIBs is how to develop cathode materials with high capacity and working voltage. This review provides an overview and future perspectives to develop next-generation LIBs with high electrochemical performance.