Drug disposal and abuse are increasing every year, and the use of drugs has recently reached its peak due to COVID‐19. However, there still remains a lack of awareness regarding the proper disposal of waste medications, and if not properly disposed of, these complex chemical structures can have severe environmental impacts. Furthermore, as this waste contains chemically valuable substances, a recycling strategy is needed. To address this issue, the potential of reusing expired commercial acetaminophen tablets as freeze‐dried acetaminophen (FAP) for a lithium‐ion battery (LIB) anode material is investigated. The Li storage mechanism and electrochemical performance are investigated via density functional theory, ex situ Fourier‐transform infrared spectroscopy, galvanostatic discharge/charge analysis, and cyclic voltammetry. The FAP anode exhibited the excellent electrochemical performances and cycle stability. This study will present a new recycling approach, and the results demonstrate the application potential of waste medications in LIBs, which can contribute to resource recovery and the circular economy.