Thermal batteries are reserve batteries with molten salts as an electrolyte, which activates at high temperature. Due to their excellent reliability, long shelf life, and mechanical robustness, thermal batteries are used in military applications. A high-performance cathode for thermal batteries should be considered in terms of its high capacity, high voltage, and high thermal stability. Research progress on cathode materials from the recent decade is reviewed in this article. The major directions of research were surface modification, compounding of existing materials, fabrication of thin film cathode, and development of new materials. In order to develop a high-performance cathode, a proper combination of these research directions is required while considering mass production and cost.