Lithium is a vital raw material used for a wide range of applications, such as the fabrication of glass, ceramics, pharmaceuticals, and batteries for electric cars. The accelerating electrification transition and the global commitment to decarbonization have caused an increasing demand for lithium. The current supply derived from brines and hard rock ores is not enough to meet the global demand unless alternate resources and efficient techniques to recover this valuable metal are implemented. In the past few decades, several approaches have been studied to extract lithium from aqueous resources. Among those studied, chemical precipitation is considered the most efficient technology for the extraction of metals from wastewater. This paper outlines the current technology, its challenges, and its environmental impacts. Moreover, it reviews alternative approaches to recover lithium via chemical precipitation, and systematically studies the effects of different operating conditions on the lithium precipitation rate. In addition, the biggest challenges of the most recent studies are discussed, along with implications for future innovation. © 2023 by the authors.