Several spent Li-ion batteries were manually dismantled and their components were uncurled and separated. The chemical composition of each battery's component was determined by atomic absorption spectroscopy. Among several ways to separate cathode material from the collector, the alkali dissolution treatment was selected as the most effective one. After both complete separation and acid leaching steps, the co-precipitation method, followed by a thermal treatment (700 °C or 850 °C), was used to resynthesize cathode material LiCo0.415Mn0.435Ni0.15O2. Its structure and morphology were characterized by XRD, Raman spectroscopy and SEM-EDS methods. The electrochemical behavior of recycled cathode materials was examined by cyclic voltammetry and chronopotentiometry in both LiNO3 and NaNO3 aqueous solutions. High sodium storage capacity, amounting to 93 mAh g−1, was measured galvanostatically at a relatively high current of ∼100 mA g−1. Initial lithium intercalation capacity of ∼64 mAh g−1, was determined potentiodynamically at very high scan rate of 20 mV s−1 (∼40 C). Somewhat lower initial capacity of ∼30 mAh g−1, but much lower capacity fade on cycling, was found for sodium intercalation at the same scan rate. The differences in the Li and Na charge storage capability were explained in terms of ion rearrangement during charging/discharging processes.