The rapid growth of electric vehicle (EV) market promotes the mass production of lithium-ion batteries. However, the battery production is subjected to high cost and serious environmental issues. Effective and efficient end-of-use lithium-ion battery (LIB) management should be carried out to enhance sustainable development, following the principles of the triple bottom line and circular economy. From the life cycle perspective, battery refurbishing and material recovery are the two major end-of-use options to recover the value of spent batteries. The refurbishing of spent batteries can extend the battery useful life and make full use of battery remaining functional value. Material recycling can recover the battery materials for a new life cycle. However, there still exist many barriers that should be investigated to ensure the success of end-of-use battery recovery. The review covered the pathways to present a full view of end-of-use battery recovery, identified the key bottlenecks in different dimensions, and discussed the strategies for specific scenarios. Industrial practice and pilot projects associated with the two end-of-use options are summarized. In the end, analysis and research suggestions are provided to facilitate the establishment of a sustainable circular battery recovery system.