Carbon‐reinforced polymer matrix composites (PMCs) have been thoroughly applied in different fields because of their benefits, such as low specific gravity, corrosion resistance, good electrical conductivity, and robust mechanical properties. Especially, with the emergence of fused deposition modeling (FDM) technology has further promoted the application of such materials in complex structural components. Recently, FDM printing carbon‐reinforced PMCs have become a hot topic in composites research, and many promising results have been achieved around related research. In order to help readers have a comprehensive and systematic understanding of the latest research progress of FDM printing carbon‐reinforced PMCs in terms of material modification, processing, material properties, and application levels, this paper reviews the properties and processes of FDM printed carbon‐reinforced PMCs and their potential applications in aerospace, flexible sensing, electrochemistry, and biomedical fields. The effects of commonly used carbon reinforcing materials on the performance of FDM printed PMCs were contrasted and analyzed. Moreover, the process optimization of printing carbon‐reinforced PMCs was introduced and highlighted. Finally, the current challenges and future research directions of FDM printing carbon‐reinforced PMCs were analyzed and prospected.