A general continuum theory is developed for ion intercalation dynamics in a single crystal of rechargeable-battery composite electrode material. It is based on an existing phase-field formulation of the bulk free energy and incorporates two crucial effects: (i) anisotropic ionic mobility in the crystal and (ii) surface reactions governing the flux of ions across the electrode/electrolyte interface, depending on the local free energy difference. Although the phase boundary can form a classical diffusive “shrinking core” when the dynamics is bulk-transport-limited, the theory also predicts a new regime of surface-reaction-limited (SRL) dynamics, where the phase boundary extends from surface to surface along planes of fast ionic diffusion, consistent with recent experiments on LiFePO 4 . In the SRL regime, the theory produces a fundamentally new equation for phase transformation dynamics, which admits traveling-wave solutions. Rather than forming a shrinking core of untransformed material, the phase boundary advances by filling (or emptying) successive channels of fast diffusion in the crystal. By considering the random nucleation of SRL phase-transformation waves, the theory predicts a very different picture of charge/discharge dynamics from the classical diffusion-limited model, which could affect the interpretation of experimental data for LiFePO 4 .