Iron oxides, such as Fe3O4, are putative anode materials for rechargeable lithium-ion batteries (LIBs). LIBs are extensively used as power sources for electronics. They typically consist of cells, with each cell built out of a lithium cathode and a graphite anode. However, graphite anodes suffer from the disadvantages of significant density, large volume, low energy density, and inferior safety levels. Iron oxides seem to be a promising substitute to the currently used graphite anodes due to their high capacity, extensive availability, good stability, and environmental tolerance. Nevertheless, several hurdles prevent their market expansion, such as inferior electronic/ionic conductivity, large volume changes, poor cycling performance, and low coulombic efficiency. Using Fe3O4 seems to be one alternative to address these challenges. This review will cover the current state of development of iron oxide electrodes with respect to design, production techniques, and general applications.