A binder plays a critical role in dispersion of coating liquids and the quality of coating. Poly(vinylidene fluoride) (PVDF) is widely used as a binder in cathode slurries; however, its role as a binder is still under debate. In this paper, we study the role of PVDF on the rheology of cathode battery slurries consisting of Li(Ni1/3Mn1/3Co1/3)O2 (NCM), carbon black (CB) and N-methyl-2-pyrrolidone (NMP). Rheology and microstructure of cathode slurries are systemically investigated with three model suspensions: CB/PVDF/NMP, NCM/PVDF/NMP and NCM/CB/PVDF/NMP. To highlight the role of PVDF in cathode slurries, we prepare the same model suspensions by replacing PVDF with PVP, and we compare the role of PVDF to PVP in the suspension rheology. We find that PVDF adsorbs neither onto NCM nor CB surface, which can be attributed to its poor affinity to NCM and CB. Rheological measurements suggest that PVDF mainly increases matrix viscosity in the suspension without affecting the microstructure formed by CB and NCM particles. In contrast to PVDF, PVP stabilizes the structure of CB and NCM in the model suspensions, as it is adsorbed on the CB surface. This study will provide a useful insight to fundamentally understand the rheology of cathode slurries.