Novel ternary Fe-Sn-P alloys prepared by simple single-step electrodeposition are investigated as promising anodes for Li-ion batteries. The Fe51Sn38P11 electrode, in particular, shows outstanding Li-storage properties, with initial specific discharge/charge capacities of 857.8 and 655mAhg−1, respectively. The reversible capacity remains stable at 427mAhg−1, even after 90 cycles, corresponding to a coulombic efficiency of 96% and a capacity retention of 65%. The cauliflower-like morphology of the above anode is well preserved after 90 cycles, suggesting that this alloy could significantly mitigate the electrode volume expansion by exerting a positive multiphase synergistic effect. The superior electrochemical performance of the ternary Fe-Sn-P alloys confirmed its potential as an alternative Li-ion storage anode; the large-scale suitability of the developed electroplating method provides an additional advantage.