The global energy demand and increasing global warming are threats to the planet; therefore, replacing internal combustion engine vehicles to electric vehicles is prerequisite. Rechargeable batteries are key component to operate electric vehicles, among which lithium-ion batteries are governing the industry. After the successful discovery of Goodenough’s LiCoO₂, layered oxides are emerging and are considered to be the next-generation cathodes. Ni-rich layered oxides are the new-generation cathode material owing to high specific capacity, high energy density, high operating voltage and low cost. Substitution of Co, Mn and Al is advantageous to compensate for the loss of the storage capacity and structural degradation. This review aims to discuss the characteristics, structure and preparation methods for nickel-rich layered oxide cathode material.