Electrochemical performance of an aqueous rechargeable lithium battery (ARLB) containing a LiV3O8 (negative electrode) and LiCoO2 (positive electrode) in saturated LiNO3 aqueous electrolyte was studied. These two electrode materials are stable in the aqueous solution and intercalation/deintercalation of lithium ions occurs within the window of electrochemical stability of water. The obtained capacity of this cell system is about 55mAh/g based on the mass of the positive electrode, which is lower than the corresponding one in the non-aqueous lithium ion battery. However, its specific capacity can be compared with those of the lead acid and Ni–Cd batteries. In addition, initial results show that this cell system is good in cycling.