Lithium iron phosphate (LiFePO4) is considered as one of the most promising cathode materials for lithium-ion batteries, and its preparation process significantly impacts performance indicators, such as specific capacity under high charge and discharge rates. Among various methods, the carbothermal reduction method (CTR) is widely used for LiFePO4 preparation due to its strong reducing atmosphere and ease of industrial-scale production. This review aims to provide a comparative analysis of the effects of single CTR, combining solid-liquid phase methods utilizing CTR with microwave heating, and CTR combined with carbon coating modification on the specific capacity performance of LiFePO4 at high charge and discharge rates. The findings reveal that the combination of CTR with carbon coating modification or microwave-assisted solid-phase methods not only enhances the specific capacity performance at high rates but also offers additional advantages like improved energy efficiency and cleanliness. Building upon these observations, this paper proposes a clean and efficient research direction for the CTR process, focusing on investigating the synergistic effects of CTR with microwave heating and carbon coating methods on the performance of LiFePO4. Ultimately, this review provides valuable theoretical support for the proposal of combined processes involving CTR, microwave heating, and carbon coating methods.