Copper (Cu)-based composite coatings have been widely applied in all kinds of important industry fields due to their outstanding comprehensive properties. The preparation temperature of a composite coating is the key factor affecting the properties, so the cold spray (CS) technology is characterized by low-temperature solid-state deposition, which ensures its emergence as the most promising technology for preparing the Cu-based composite coatings. In this paper, first, the principle of CS technology and the deposition mechanism of the coatings are introduced. On this basis, the deposition mechanism of Cu-based metal/ceramic composite coatings is further explored. Secondly, the effects of key CS process parameters (particle velocity, particle morphology, and substrate state) on the quality of the Cu-based composite coatings are summarized, and the current research status of cold-sprayed Cu-based composite coatings in the fields of corrosion resistance, wear resistance, self-lubricating properties, and electrical conductivity is reviewed. Moreover, the improvement of the performance of Cu-based composite coatings by various post-process treatments of coatings, such as heat treatment (HT) and friction stir processing (FSP), is elaborated. Finally, the future development of Cu-based composite coatings and CS technology is prospected.