LiFeBO3 cathode material has been synthesized successfully by solid-state reaction using Li2CO3, H3BO3 and FeC2O4·2H2O as starting materials. The crystal structure has been determined by the X-ray diffraction. Electrochemical tests show that an initial discharge capacity of about 125.8mAh/g can be obtained at the discharge current density of 5mA/g. When the discharge current density is increased to 50mA/g, the specific capacity of 88.6mAh/g can still be held. In order to further improve the electrochemical properties, the carbon-coated LiFeBO3, C-LiFeBO3, are also prepared. The amount of carbon coated on LiFeBO3 particles was determined to be around 5% by TG analysis. In comparison with the pure LiFeBO3, a higher discharge capacity, 158.3mAh/g at 5mA/g and 122.9mAh/g at 50mA/g, was obtained for C-LiFeBO3. Based on its low cost and reasonable electrochemical properties obtained in this work, LiFeBO3 may be an attractive cathode for lithium-ion batteries.