Intermittent energy provided by renewable energy systems has aroused the necessity to look for alternative energy solutions. This can be addressed by storing energy in electrochemical systems such as Li-ion batteries and supercapacitors, which productively store and deliver energy on demand. In particular, Li-ion batteries are capable of providing the required specific capacity, energy density, and cycle life for use in electric vehicles and large-scale energy storage systems. The efficiency of a Li-ion battery is largely determined by the ability of the electrode to intercalate/deintercalate Li + ions reversibly during the repetitive charge/discharge cycles and its performance can be directly correlated to the development of electrode materials, such as cathode and anode, which work in great synergy to enhance the capacity, energy density, cyclability, and stability respectively. As each electrode has certain drawbacks, electrode materials should be chosen in such a way that they deliver the required energy densities suitable for various applications. This chapter deals with some of the benchmark cathode and anode materials that have been commercialized extensively.