Abstract: With the rapid development of advanced technologies, electromagnetic waves are increasingly applied in both civilian and military fields, giving rise to urgent problems with interference and leakage of electromagnetic waves. As a key solution, electromagnetic wave absorbing materials have received widespread attention. Carbon fibres (CFs) are favored due to their lightness, low cost, excellent electrical properties, and chemical stability. However, a single CFs cannot meet comprehensive absorption requirements, necessitating the introduction of various loss mechanisms and reasonable microstructure designs to adjust electromagnetic parameters, optimize impedance matching, and enhance the attenuation capabilities of electromagnetic waves. This paper focuses on reviewing research progress in modifying CFs with metals, metal compounds, carbon materials, conductive polymers, and other multi-component hybrid materials at home and abroad, analyzing the influence of structural and compositional changes on absorption performance. Additionally, it summarizes the major challenges faced by current lightweight carbon fiber-based composite absorbing materials and outlooks their development prospects.