The use of iron ore-coal composite pellet as a raw material for iron making is an ongoing area of research. Investigations on composite pellet reduction have reported some interesting phenomena, and experimental and modeling results, in which consistent and inconsistent conclusions have been presented in the literature. The aim of this review is to summarize the fundamentals of reduction kinetics of iron ore-coal composite pellet and the effect of various process parameters such as compositions, particle size, pellet geometry, ambient atmosphere and its partial pressure, heating conditions, and compaction pressure, etc., on it. The industrial application of composite pellet is also discussed. This article will be useful for the researchers carrying out experimental as well as modeling work related to the iron oxide-carbon composite pellet reduction.