Transition metal selenides have narrow or zero band-gap characteristics and high theoretical specific capacity. Among them, cobalt selenide and cobalt telluride have some typical problems such as large volume changes, low conductivity, and poor structural stability, but they have become a research hotspot in the field of energy storage and conversion because of their high capacity and high designability. Some of the innovative synthesis, doping, and nanostructure design strategies for CoSex and CoTex, such as CoSe-InCo-InSe bimetallic bi-heterogeneous interfaces, CoTe anchoring MXenes, etc., show great promise. In this paper, the research progress on the multistep transformation mechanisms of CoSex and CoTex is summarized, along with advanced structural design and modification methods such as defect engineering and compositing with MXenes. It is hoped that this review will provide a glimpse into the development of CoSex and CoTex anodes for alkali-ion batteries.