Carbon fibers (CFs) have high specific tensile strength, high modulus, and outstanding wear resistance, and are widely used for the reinforcement of advanced composite materials. CF-reinforced thermoplastic composites have received much attention because of their easy processability and recycling convenience compared with thermosetting composites. Surface treatment of CFs is generally employed to increase the surface functional groups and interfacial adhesion between the CFs and the surrounding polymer matrix. In this review, we explore recent advances in the surface treatment of CFs and preparation of CF/thermoplastic composites. The thermal, mechanical, and electrical properties of the composites are also discussed.