Attempts to utilize lithium-ion batteries (LIBs) in large-scale electrochemical energy storage systems have achieved initial success, and solid-state LIBs using metallic lithium as the anode have also been well developed. However, the sharply increased demands/costs and the limited reserves of the two most important metal elements (Li & Co) for LIBs have raised concerns about future development. Sodium-ion batteries (SIBs) equipped with advanced cobalt-free cathodes show great potential in solving both "lithium panic" and "cobalt panic", and have made remarkable progress in recent years. In this review, we comprehensively summarize the recent advances of high-performance cobalt-free cathode materials for advanced SIBs, systematically analyze the conflicts of structural/electrochemical stability with intrinsic insufficiencies of cobalt-free cathode materials, and extensively discuss the strategies of constructing stable cobalt-free cathode materials by making full use of non-cobalt transition-metal elements and suitable crystal structures, all of which aim to provide insights into the key factors (e.g., phase transformation, particle cracks, crystal defects, lattice distortion, lattice oxygen oxidation, morphology, transition-metal migration/dissolution, and the synergistic effects of composite structures) that can determine the stability of cobalt-free cathode materials, provide guidelines for future research, and stimulate more interest on constructing high-performance cobalt-free cathode materials.