Rapid growth of electric vehicles market advances the mass production of lithium-ion batteries. End-of-life lithium-ion battery management can enhance sustainable development, following the principles of triple bottom line and circular economy. From a life cycle perspective, battery second use and material recovery are two major end-of-life options to handle spent batteries. As an emerging business, battery second use suffers from technology immaturity and has room for multiple types of collaboration benefiting cross-sector stakeholders. On the other hand, existing recycling technologies cannot significantly offset the environmental impact caused by battery manufacturing. To address these concerns and support policy making, the review covered the technical pathways to present a full view of end-of-life battery recovery, identified the key bottlenecks in different dimensions, discussed the strategies for specific applications and even business model innovations. Industrial practice and pilot projects associated with the two end-of-life options are summarized. In the end, future research suggestions are provided to facilitate the establishment of a sustainable circular battery recycling system.