Understanding the degradation factors (cathode and anode degradation and solid electrolyte interface (SEI) formation) of lithium-ion batteries (LIBs) with a blended cathode is necessary to improve their durability because battery drive vehicles often use LIBs with a blended cathode due to advantages of power and cost. We developed a dV/dQ curve analysis adapted for through a dQ/dV curve analysis to elucidate the relations between cycle test conditions and degradation factors. To compare said factors, cycle tests were conducted under different conditions: one charge/discharge rate (C/3), two state-of-charge (SoC) ranges (100%–0% and 100%–70%), and three temperatures (0 °C, 25 °C, and 45 °C). We confirmed that there are clear differences in the degree of contribution of each degradation factor depending on conditions. For instance, at 0 °C, although the capacity reduction rate was almost the same regardless of the SoC range, the degradation mechanisms were different, i.e., the cathode degradation and the SEI formation occurred at the same time, resulting in the reduced capacity for the 100%–0% SoC range, while capacity reduction was mainly due to SEI formation for the 100%–70% SoC range.