The ongoing advancements in lithium‐ion battery technology are pivotal in propelling the performance of modern electronic devices and electric vehicles. Amongst various components, the cathode material significantly influences the battery performance, such as the specific capacity, capacity retention and the rate performance. Ternary cathode materials, composed of nickel, manganese, and cobalt (NCM), offer a balanced combination of these traits. Recent developments focus on elemental doping, which involves substituting a fraction of NCM constituent ions with alternative cations such as aluminum, titanium, or magnesium. This strategic substitution aims to enhance structural stability, increase capacity retention, and improve resistance to thermal runaway. Doped ternary materials have shown promising results, with improvements in cycle life and operational safety. However, the quest for optimal doping elements and concentrations persists to maximize performance while minimizing cost and environmental impact, ensuring the progression towards high‐energy‐density, durable, and safe battery technologies.