Lithium-ion batteries (LiBs) have been widely used in a variety of applications, however they still suffer from low capacity retention, large capacity fade ratio or inability to charge efficiently at low temperatures, especially below -20 oC. The reasons behind these drawbacks originate from the nature of active materials such as the anode and the cathode, along with the composition of electrolyte solutions. In particular, from the perspective of active materials, it has been reported that the most common problems arise from the dramatic increase in the resistances, especially charge transfer resistance, and the decrease of lithium-ion diffusivity, by more than one order of magnitude. In this report, we review the most recent strategies in the development of anode and cathode materials and composites, focusing on enhanced electronic and ionic conductivities for improved low-temperature electrochemical performance. Our overview aims to provide a comprehensive comparative study of the proposed methods to overcome the low-temperature challenges in order to develop high energy-density LiBs with enhanced capacity retention, cycling stability and high-rate capability under extreme conditions.