A positive electrode for a rechargeable lithium battery and a rechargeable lithium battery including the same. The positive electrode may include a current collector and a positive active material layer on the current collector, wherein the positive active material layer may include a positive active material and a Fe-containing oxide, and the Fe-containing oxide is included in an amount of about 0.015 parts by weight to about 8.5 parts by weight based on 100 parts by weight of the positive active material.