A significant driving force behind the brisk research on rechargeable batteries, particularly lithium-ion batteries (LiBs) in high-performance applications, is the development of portable devices and electric vehicles. Carbon-based materials, which have finite specific capacity, make up the anodes of LiBs. Many attempts are being made to produce novel nanostructured composite anode materials for LiBs that display cycle stability that is superior to that of graphite using graphene oxide. Therefore, using significant amounts of waste graphene oxide from used LiBs represents a fantastic opportunity to engage in waste management and circular economy. This review outlines recent studies, developments and the current advancement of graphene oxide-based LiBs, including preparation of graphene oxide and utilization in LiBs, particularly from the perspective of energy storage technology, which has drawn more and more attention to creating high-performance electrode systems.