Although lithium-ion batteries have already had a considerable impact on making our lives smarter, healthier, and cleaner by powering smartphones, wearable devices, and electric vehicles, demands for significant improvement in battery performance have grown with the continuous development of electronic devices. Developing novel anode materials offers one of the most promising routes to meet these demands and to resolve issues present in existing graphite anodes, such as a low theoretical capacity and poor rate capabilities. Significant improvements over current commercial batteries have been identified using the electrospinning process, owing to a simple processing technique and a wide variety of electrospinnable materials. It is important to understand previous work on nanofiber anode materials to establish strategies that encourage the implementation of current technological developments into commercial lithium-ion battery production, and to advance the design of novel nanofiber anode materials that will be used in the next-generation of batteries. This review identifies previous research into electrospun nanofiber anode materials based on the type of electrochemical reactions present and provides insights that can be used to improve conventional lithium-ion battery performances and to pioneer novel manufacturing routes that can successfully produce the next generation of batteries.