Li-rich cathode materials can offer a high specific capacity of ≥250 mA h g −1 ; however, the major issues are their structural instability, capacity degradation, and voltage decay upon prolonged cycling. Herein, we have shown that an increase in Ni content with a concomitant reduction in Mn and Co content in Li-rich cathode materials can help to alleviate structural and electrochemical instability to a considerable extent. In this regard, we have carried out a systematic investigation of tuning the Ni, Mn, and Co (NMC) content in the Li-rich phase, Li 1.2 (Ni x Mn y Co z )O 2 (where x + y + z = 0.8). In the composite notion, these Li-rich phases can also be written as 0.4(LiNi x Mn y Co z O 2 )•0.4(Li 2 MnO 3 ), where the layered oxide components LiNi x Mn y Co z O 2 (x + y + z = 1) are generally termed as NMC-333, NMC-442, NMC-532, NMC-622, and NMC-811, depending upon the concentration of metal constituents. The electrochemical studies reveal that the higher Ni-containing phase 0.4(LiNi 0.8 Mn 0.1 Co 0.1 O 2 )•0.4(Li 2 MnO 3 ) or Li 1.2 Ni 0.32 Co 0.04 Mn 0.44 O 2 shows the least voltage decay of about 0.4 V and a higher capacity retention of 85% after 100 cycles compared to those of the low Ni-containing composition 0.4(LiNi 0.33 Mn 0.33 Co 0.33 O 2 )•0.4(Li 2 MnO 3 ) or Li 1.2 Ni 0.13 Co 0.13 Mn 0.54 O 2 , which shows a higher voltage decay of 1.0 V with a 69% capacity retention after 100 cycles at a 0.2 C rate.