Nickel‐rich layered transition metal oxides are considered as promising cathode candidates to construct next‐generation lithium‐ion batteries to satisfy the demands of electrical vehicles, because of the high energy density, low cost, and environment friendliness. However, some problems related to rate capability, structure stability, and safety still hamper their commercial application. In this Review, beginning with the relationships between the physicochemical properties and electrochemical performance, the underlying mechanisms of the capacity/voltage fade and the unstable structure of Ni‐rich cathodes are deeply analyzed. Furthermore, the recent research progress of Ni‐rich oxide cathode materials through element doping, surface modification, and structure tuning are summarized. Finally, this review concludes by discussing new insights to expand the field of Ni‐rich oxides and promote practical applications. Nickel for better batteries: This Review systematically summarizes Ni‐rich layered materials as cathodes for lithium‐ion batteries through six aspects: synthesis, mechanism, element doping, surface coating, compositional partitioning, and electrolyte adjustment with the aim to boost the development and achieve expectations.