Fast-charging batteries are highly sought after. However, the current battery industry has used carbon as the preferred anode, which can suffer from dendrite formation problems at high current density, causing failure after prolonged cycling and posing safety hazards. The phosphorus (P) anode is being considered as a promising successor to graphite due to its safe lithiation potential, low ion diffusion energy barrier, and high theoretical storage capacity. Since 2019, fast-charging P-based anodes have realized the goals of extreme fast charging (XFC), which enables a 10 min recharging time to deliver a capacity retention larger than 80%. Rechargeable battery technologies that use P-based anodes, along with high-capacity conversion-type cathodes or high-voltage insertion-type cathodes, have thus garnered substantial attention from both the academic and industry communities. In spite of this activity, there remains a rather sparse range of high-performance and fast-charging P-based cell configurations. Herein, we first systematically examine four challenges for fast-charging P-based anodes, including the volumetric variation during the cycling process, the electrode interfacial instability, the dissolution of polyphosphides, and the long-lasting P/electrolyte side reactions. Next, we summarize a range of strategies with the potential to circumvent these challenges and rationally control electrochemical reaction processes at the P anode. We also consider both binders and electrode structures. We also propose other remaining issues and corresponding strategies for the improvement and understanding of the fast-charging P anode. Finally, we review and discuss the existing full cell configurations based on P anodes and forecast the potential feasibility of recycling spent P-based full cells according to the trajectory of recent developments in batteries. We hope this review affords a fresh perspective on P science and engineering toward fast-charging energy storage devices.