The study on iron-based materials has become a research hotspot in recent years for their friendliness to environment,low cost,high safety and good electrochemical performance. The research status quo of iron-based electrode materials for lithium-ion battery was reviewed and their application prospects were given. The results show that LiFePO4 will be the most promising alternative cathode material because of its excellent characteristics and the other iron-based materials with advantage of cheapness will also show more widely applied prospects along with farther research.