Co2B2O5 was synthesized by the rheological phase treatment, followed by ball-milling and subsequent calcination in oxygen atmosphere. The electrochemical properties of this material as a negative electrode for lithium-ion battery were investigated. There are two plateaus with potentials at 0.83 and 0.75 V, respectively, on the first discharge curve. The initial discharge and charge capacities of Co2B2O5 are 1048 and 587 mAh g−1, respectively. The capacity retains 355 mAh g−1 after 10 cycles. The results indicate that Co2B2O5 has potential use in lithium-ion battery as a novel anode material.