LiNi0.5Mn1.5O4 is a promising cathode material for high power lithium ion batteries (LIBs) for electric vehicles (EVs) and hybrid electric vehicles (HEVs). For the first time we design a tri-functional coating to improve the cycling performance of LiNi0.5Mn1.5O4. With the designed BiPO4 coating, the capacity retentions of LiNi0.5Mn1.5O4 are largely improved from 84.3% to 93.6% at 0.5 C after 50 cycles and from 80.6% to 96.2% at 10 C after 100 cycles. The tri-functional coating reduces the charge transfer resistance of LiNi0.5Mn1.5O4 cathode and plays a critical role in enhancing the electrochemical performance and lifetime. This strategy provides a new way to modify electrode materials to elevate the performance of LIBs.