Lithium (Li), which serves as a high-capacity anode, plays a crucial role in the construction of high-energy-density Li metal batteries. Despite its potential, the practical applications of Li metal batteries face significant challenges, which are prominently illustrated by the presence of dead Li. This issue results in severe degradation of battery life and safety. In this review, we explore the formation mechanism of dead Li, by using characterization techniques and proposing effective solutions. Primarily, dead Li originates from the incomplete Li stripping process, undergoing chemical/electrochemical corrosion by the electrolyte. The latter occurs during battery charge/discharge cycles and calendar aging. Drawing on our recent reports, this review employs cryo-electron microscopy, in-situ optical microscopy/Raman spectroscopy, and three-electrode electrochemical techniques to investigate the microstructures, compositions, and evolution mechanism of dead Li. In our findings, the inhibition strategies to mitigate the formation and accumulation of dead Li are outlined. These strategies include designing a host to support bulk Li, introducing protective layers to stabilize the interface, and formulating high-performance and solid-state electrolytes. In addition, we analyze the reactivation strategy for dead Li, enabling its conversion, migration, storage, and reuse. Given the complex dynamic changes in the structure, composition, and spatial distribution of dead Li in real cells—influenced by Li corrosion, interface dissolution, and the internal electric field—it is imperative to further investigate the dynamic evolution mechanism of dead Li. This pursuit aims to provide a scientific foundation for a comprehensive resolution of the dead Li issue.