A multicomponent olivine cathode material, LiMn0.4Fe0.6PO4 , was synthesized via a novel coprecipitation method of the mixed transition metal oxalate. X-ray diffraction patterns indicate that carbon-coated LiMn0.4Fe0.6PO4 has been prepared successfully and that LiMn0.4Fe0.6PO4/C is crystallized in an orthorhombic structure without noticeable impurity. Homogeneous distribution of Mn and Fe in LiMn0.4Fe0.6PO4/C can be observed from the scanning electron microscopy (SEM) and the corresponding energy dispersive X-ray spectrometry (EDS) analysis. Hence, the electrochemical activity of each transition metal in the olivine synthesized via coprecipitation method was enhanced remarkably, as indicated by the galvanostatic charge/discharge measurement. The synthesized LiMn0.4Fe0.6PO4/C exhibits a high capacity of 158.6 ± 3 mAhg-1 at 0.1 C, delivering an excellent rate capability of 122.6 ± 3 mAhg-1 at 10 C and 114.9 ± 3 mAhg-1 at 20 C.