There is still a sustained effort to explore and develop new electrode materials for Li‐ion rechargeable batteries. Presently, materials exploration not only focuses on the enhancement of Li‐ion battery performance, but also targets to make them cheaper and safer. This expectedly will make them market competitive against established battery chemistries. Graphitic carbon nitride (g‐C3N4), which has emerged as an important photon harvesting material, is demonstrated here as a potential efficient and cost effective alternative anode for Li‐ion cells. The g‐C3N4, synthesized here from pyrolysis of thiourea, possesses both graphitic and amorphous phases (T‐gCN). The intercalation of Li+ ions in the densely packed layered structure of T‐gCN (lithiated T‐gCN) results in an ionic conductivity ≈ 10−7 S/cm compared to the non‐lithiated T‐gCN which shows no ionic conductivity. The ionic transport takes place via both the amorphous and graphitic phases in T‐gCN. The T‐gCN when treated with an acidified dichromate solution disintegrates in to filaments, which on prolonged stirring self‐assemble into pillar‐like g‐C3N4 structures (T‐gCNP). The T‐gCNP exhibited higher crystallinity and an even higher ionic conductivity compared to the T‐gCN. The T‐gCN and T‐gCNP deliver modest specific capacities compared to battery grade graphite and other reported carbonaceous/non‐carbonaceous materials in the half‐cell operation. However, when coupled with cathodes such as LiFePO4 and LiMn2O4 in a full Li‐ion cell, the specific capacity obtained in the 1st discharge cycle for both LiFePO4 and LiMn2O4 are very close to their theoretical capacities. The cells display stable cycling and good current rate capability over widely varying current values. This is remarkable in spite of the fact that the samples are not completely crystalline with an average carbon content of approximately 31%. It is envisaged that a continuous network persists for electron transport for their participation in the reversible redox process.