Pine‐leaf‐like α‐Fe2O3 micro/nanostructures with (110)‐facet orientations are prepared by a hydrothermal process using Mg2+ as an inducer and are investigated as conversion‐type anode materials for lithium‐ion batteries (LIBs). The unique micro/nanostructured building blocks significantly shorten the diffusion distance for lithium ions and improve the kinetics of the lithium ion extraction/insertion process, and the unique hierarchical morphology provide buffer space for the volume change of the electrode during the charge–discharge processes. Thus, favorable performances for lithium storage are demonstrated for the micro/nanostructured α‐Fe2O3 electrodes. In addition, the facet orientation of the particles is also found to have a substantial impact on the electrode performance, and the growth of the micro/nanoparticles in a preferred orientation along the (110) plane facilitated the anisotropic diffusion of lithium ions along channels in the [1true1‾
00] direction. From the dual benefits of the stable hierarchical micro/nanostructure and the preferred growth of the particles along the (110) plane, excellent electrochemical performance with a reversible capacity of up to 915 and 565 mA h g−1 at rates of 100 and 5000 mA g−1, respectively, and a capacity retention of 690 mA h g−1 at 1000 mA g−1 after 200 cycles is demonstrated for the α‐Fe2O3 micro/nanostructure prepared under optimized conditions.