Silicon, because of its high specific capacity, is intensively pursued as one of the most promising anode material for next‐generation lithium‐ion batteries. In the past decade, various nanostructures are successfully demonstrated to address major challenges for reversible Si anodes related to pulverization and solid‐electrolyte interphase. However, the electrochemical performance is still limited by challenges that stem from the use of nanomaterials. In this progress report, the focus is on the challenges and recent progress in the development of Si anodes for lithium‐ion battery, including initial Coulombic efficiency, areal capacity, and material cost, which call for more research effort and provide a bright prospect for the widespread applications of silicon anodes in the future lithium‐ion batteries.