Anode material is an important component for Li-ion battery. The current anode materials are mainly based on graphite, which possesses low theoretical specific capacity of 372 mAh/g, and thus hinder the further development of Li-ion battery. Among the newly developed anode materials, metal oxides have recently attracted intense attention due to their high theoretical specific capacity, low cost and environmental friendliness. However, metal oxides own poor electrical conductivity and large volume changes during cycling. Nanosizing can overcome these disadvantages while maintaining the advantages for metal oxide based anode materials, and thus becomes a research hot spot. Herein, we review the recent research advances of the nanostructured metal oxides as anode materials, mainly focusing on the microstructure design and performance optimization of representative metal oxides and their composites. In addition, some suggestions are presented for further explorations in relative fields.