To investigate the effects of binder materials on the electrochemical properties of Fe2O3 electrodes in alkaline solution, four different materials were applied as binders: polytetrafluoroethylene (PTFE), polyvinylidene fluoride (PVDF), polyethelene (PE), and poly tetrafluoroethylene-co-vinylidene (P(TFE-VDF)). In KOH aqueous solutions, electrodes containing different binders showed quite different properties. The PE-containing electrode showed the highest capacity retention up to 14 cycles (330mAhg−1, 82.7%). However, capacity fading was observed subsequently, and only 24.6% capacity remained after 30 cycles. In contrast, the PTFE-containing electrode showed continuous capacity fading but the best capacity retention of 38.6% after 30 cycles. Comparing the amount of dropout Fe2O3 from electrodes after charge/discharge measurements, it was reasonable to find that the electrodes with better cycling performance showed less Fe2O3 dropout. When K2S additives were applied, both the electrodes fabricated with PTFE and PE showed superior cycling performance, which was attributed to the good stability of PTFE and PE binders. However, when the effect of the K2S additive on the Fe2O3 dropout was studied with PTFE-containing electrodes, heavier Fe2O3 dropout was observed in the K2S-added electrolyte. This indicated that Fe2O3 dropout was not a dominant factor for the capacity fading of the electrodes.