An anode active material including a metal core and a coating layer formed on a surface of the metal core is provided. The coating layer includes a conductive metal material. The coating layer covering the metal core is carbon-based and includes a conductive metal material. The anode active material has good electron conductivity and elasticity, thereby enhancing charge/discharge capacity and reducing the stress caused by expansion of the carbon-based coating layer and the metal core during charge/discharge cycles. Direct contact between the metal core and the electrolyte solution is remarkably reduced. In addition, anodes and lithium batteries including the anode active material exhibit excellent charge/discharge characteristics, such as discharge capacity and initial charge/discharge efficiency.