Forming fibers for fabric insulation is difficult using aerogels, which have excellent thermal insulation performance but poor mechanical properties. A previous study proposed a novel method that could effectively improve the mechanical properties of aerogels and make them into fibers for use in fabric insulation. In this study, composite aerogel fibers (CAFs) with excellent mechanical properties and thermal insulation performance were prepared using a streamlined method. The wet bacterial cellulose (BC) matrix without freeze-drying directly was immersed in an inorganic precursor (silicate) solution, followed by initiating in situ sol-gel reaction under the action of acidic catalyst after secondary shaping. Finally, after surface modification and ambient drying of the wet composite gel, CAFs were obtained. The CAFs prepared by the simplified method still had favorable mechanical properties (tensile strength of 4.5 MPa) and excellent thermal insulation properties under extreme conditions (220 °C and −60 °C). In particular, compared with previous work, the presented CAFs preparation process is simpler and more environmentally friendly. In addition, the experimental costs were reduced. Furthermore, the obtained CAFs had high specific surface area (671.3 m²/g), excellent hydrophobicity, and low density (≤0.154 g/cm3). This streamlined method was proposed to prepare aerogel fibers with excellent performance to meet the requirements of wearable applications.