Providing powerful, sustainable, and green energy sources is one of the most difficult challenges for maintaining a cleaner environment today. Rechargeable lithium-ion batteries (LIBs), as effective energy storage devices, have gained lots of attention because of their relatively low self-discharge rate, high energy density, and rapid response. Since the efficiency of LIBs is significantly dependent on electrode materials, special consideration has been given to the design of different electrodes. Carbon-based materials are considered as promising LIB anode materials because of their unique structural, electrical, and mechanical properties. Nonetheless, more research is still needed to identify most optimal carbonaceous materials for improving the electrochemical, thermal, and mechanical properties of anodes. In this regard, transition metals and silicon (Si), as high-capacity materials, can be combined with carbon to create high-potential LIBs. This paper reviews various carbonaceous materials and their composites used as LIB anodes. Finally, present challenges and future outlook on these anodes are presented.