Silicon can replace graphite as anode material in lithium-ion batteries as it has high-capacity, high energy density and provides long-range when the batteries are used for electric vehicles. The technical challenges with silicon anode materials are their huge volume changes during charge/discharge, poor electrical conductivity of silicon and instability of solid electrolyte interface layer. Nanoscale silicon and their composite materials can be a great solution to overcome all these challenges. These materials offer short diffusion of lithium ions, more conductive networks and fast charging capabilities. Moreover, silicon is abundant globally and can enter into the market as a more economical anode material. Silicon nanomaterials are synthesized by various methods and coated with amorphous carbon materials to enhance their performance in terms of capacity, energy density, cyclability and rate capability for lithium-ion batteries. The volume expansion problem of silicon can be mitigated with silicon/graphite composite by improving the compatibility between silicon and graphite. Silicon–graphite composites increase the rate capability up to 8 C along with exceptional capacity retention in initial cycles during fast charging. This is due to the reduction of overpotential and rapid lithium-ion insertion. Silicon nanoparticles exhibit a high Coulombic efficiency of 90% when combined with carbon nanomaterials. Because nano size provides easy access of lithium ions to silicon anode for fast charging and carbon materials allow enhanced stability for solid electrolyte interface without any side reactions. Silicon nanoparticles/graphene composites deliver high areal capacities with mass loadings of industrially relevant thicknesses which are much greater than the conventional anodes. Self-healing polymers are added with silicon anode to strengthen the mechanical integrity of the electrode. This overview updated with various passivation strategies that were adopted to make silicon anode feasible for working in commercial batteries in electronic devices, electric vehicles and renewable energy storage systems such as solar energy and wind energy.