Two-dimensional black phosphorus (2D BP), an emerging material, has aroused tremendous interest once discovered. This is due to the fact that it integrates unprecedented properties of other 2D materials, such as tunable bandgap structures, outstanding electrochemical properties, anisotropic mechanical, thermodynamic, and photoelectric properties, making it of great research value in many fields. The emergence of 2D BP has greatly promoted the development of electrochemical energy storage devices, especially lithium-ion batteries. However, in the application of 2D BP, there are still some problems to be solved urgently, such as the difficulty in the synthesis of large-scale high-quality phosphorene, poor environmental stability, and the volume expansion as electrode materials. Herein, according to the latest research progress of 2D BP in the field of energy storage, we systematically summarize and compare the preparation methods of phosphorene and discuss the basic structure and properties of BP, especially the environmental instability and passivation techniques. In particular, the practical application and challenges of 2D BP as anode material for lithium-ion batteries are analyzed in detail. Finally, some personal perspectives on the future development and challenges of BP are presented.