The cathodes of spent ternary lithium-ion batteries (LIBs) are rich in non-ferrous metals, such as lithium (Li), nickel (Ni), cobalt (Co)and manganese (Mn), which are important strategic raw materials and also potential sources of environmental pollution. How to extract these valuable metals cleanly and efficiently from spent cathodes is of great significance for sustainable development of LIBs industry. In the light of low energy consumption, green and high recovery efficiency, this paper provides an overview on different recovery technologies to recycle valuable metals in cathode materials of spent ternary LIBs. And the development trend and application prospects on recovery strategies for cathode materials in spent ternary LIBs are simply predicted also. It is proved that the high economic recovery system of “alkaline solution dissolution/calcination pre-treatment → H2SO4 leaching → H2O2 reduction → co-precipitation regeneration NCM” will be the dominant stream for recycling retired NCM batteries soon. Furthermore, the emerging advanced technologies, such as deep eutectic solvents (DESs) extraction and one–step direct regeneration/recovery of NCM cathode materials are preferred methods to substitute conventional regeneration system in the future.