The shift toward renewable energy has led to increased demand for batteries. In energy storage applications such as grid-scale storage, consumer electronics, and electronic vehicles, lithium-ion batteries are now widely utilized. It contains lithium (2–3%), cobalt (15–25%), manganese (7–12%), copper (10%), aluminum (15%), and nickel (3–8%), which is considered a reliable secondary supply. There will be a significant amount of end-of-life batteries in the upcoming years due to the widespread use of lithium-ion batteries. Utilizing garbage offers environmental and economic benefits while conserving natural resources. Recycling spent lithium-ion batteries is gaining much popularity due to its considerable environmental impact and rising demand for critical metals. This paper highlights the recycling process, emphasizing the benefits of hydrometallurgy over competing technologies. Hydrometallurgical procedures involve leaching with alkaline solution, different inorganic acids such as HCl, H2SO4, and HNO3, and various organic acids, followed by solution purification, precipitation, and solvent extraction procedures. The present article covers the method for recovering metal salts from wasted LIBs using sulfuric acid and gives a critical evaluation of related studies.