 Locust Bean Gum (LBG, carob bean gum) was investigated as an environmentally friendly, natural, and water-soluble binder for cathode (LFP) and anode (LTO) in lithium-ion batteries (Li-ion). For the first time, we show LBG as an electrode binder and compare to those of the most popular aqueous (CMC) and conventional (PVDF) binders. The electrodes were characterized using TGA/DSC, the galvanostatic charge–discharge cycle test, cyclic voltammetry (CV), and electrochemical impedance spectroscopy (EIS). Thermal decomposition of LBG is seen to begin above 250 °C with a weight loss of about 60 wt% observed at 300 °C, which is sufficient to ensure stable performance of the electrode in a Li-ion battery. For CMC, weight loss at the same temperature is about 45%. Scanning electron microscopy (SEM) shows that the LFP–LBG system has a similar distribution of conductive carbon black particles to PVDF electrodes. The LTO–LBG electrode has a homogeneous dispersion of the electrode elements and maintains the electrical integrity of the network even after cycling, which leads to fast electron migration between LTO and carbon black particles, as well as ion conductivity between LTO active material and electrolyte, better than in systems with CMC and PVDF. The exchange current density, obtained from impedance spectroscopy fell within a broad range between 10−4 and 10−2 mA cm−2 for the LTO|Li and LFP|Li systems, respectively. The results presented in this paper indicate that LBG is a new promising material to serve as a binder.