Metal tellurides (MTs) have emerged as highly promising candidate anode materials for state-of-the-art lithium-ion batteries (LIBs) and sodium ion batteries (SIBs). This is owing to the unique crystal structure, high intrinsic conductivity, and high trap density of such materials. The present work delivers a detailed discussion on the latest research and progress associated with the use of MTs for LIBs/SIBs with a focus on reaction mechanisms, challenges, electrochemical performance, and synthesis strategies. Further, the prospects and future development of MT anode materials are discussed in terms of strategies to overcome the existing limitations. This review provides both an in-depth understanding of MTs and provides the driving force for expanding research on MTs for energy storage and conversion applications.