Cathode material LiFePO4 with an excellent rate capability has been successfully prepared by a simple solid state reaction method using LiCH3COO·2H2O, FeC2O4·2H2O and (NH4)2HPO4 as the starting materials. We have investigated the effects of the sintering temperature and mixing time of the starting materials on the physical properties and electrochemical performance of LiFePO4. It was found that the rate capability of LiFePO4 is mainly controlled by its specific surface area and it is an effective way to improve the rate capability of the sample by increasing its specific surface area. In the present study, our prepared LiFePO4 with a high specific surface area of 24.1m2 g−1 has an excellent rate capability and can deliver 115mAhg−1 of reversible capacity even at the 5C rate. Moreover, we have prepared lithium ion batteries based on LiFePO4 as the cathode material and MCMB as the anode material, which showed an excellent cycling performance.