<p>The emergence of lithium metal batteries (LMBs) featuring lithium metal anodes as a central component underscores their immense potential as next-generation energy systems, attributed to their unparalleled energy density compared to conventional lithium-ion batteries. Despite substantial efforts toward the commercialization of LMBs, numerous challenges persist. Among these, the inherent limitations of single-phase electrolytes, whether liquid, solid, or gel have prompted growing interest in a new class of two-phase electrolytes. This review explores recent advancements in two-phase electrolyte configurations for LMBs, emphasizing the synergistic capabilities of solid–solid, solid–liquid, and solid-gel architectures. By combining the unique benefits of each phase within a hybrid matrix, two-phase electrolytes exhibit enhanced ionic conductivity, mechanical stability, and interfacial compatibility. Through a systematic examination of failure mechanisms, material compatibility, and modification techniques, this review provides a comprehensive framework to drive future innovations in two-phase electrolytes, ultimately paving the way for safer, high-performance LMBs suitable for commercial applications.</p>