With the increasing demand for high power lithium ion batteries in the application of electrochemical energy storage (EES), smart grids and electric vehicle/hybrid electric vehicle (EV/HEV), the development of anode materials with high power density, long cycle life and high safety is of great importance and urgency in recent years. Spinel lithium titanium oxide (Li4Ti5O12, LTO) has been considered as one of the most promising anode materials due to its high charge/discharge voltage plateau, stable crystal, long cycle life and high safety. However, its intrinsic low electronic conductivity, as well as the gassing behavior which usually happens during charge/discharge processes, have hindered the large scale application of LTO. Carbon materials with high conductivity, excellent chemical and thermal stability, various structures and environment friendly, can be used to form hybrid materials with LTO to improve the overall electronic conductivity and suppress the gassing at the same time. Therefore, carbon materials play a crucial role in the modification of LTO. This paper reviews the application of carbon materials for the LTO anode and their research progress in recent years, focusing on the ways and effects of carbon materials on the modification of the electrochemical performance of LTO. The problems in the fabrication and application for the LTO/carbon hybrid materials are addressed. Potential applications of the LTO/carbon hybrid materials are also presented.