Carbon fiber (CF) reinforced thermoplastic and thermoset composites are on the rise for research and new technologies, consequently, the use by many industries for applications in diverse areas. The principal methodologies and technologies for reusing and recycling these composites and possible applications are reviewed based on available in the information in the existing scientific literature. This review aims to present the possibilities of recycling, reuse and application of these composites reinforced with CF. The composites show a high added value due to the cost of the raw material and the technology involved in its development, which deserves attention for its possible recycling, and thus, and closed-loop economy. Given the current concern for the environment, the future disposal of waste based on CF reinforced thermoplastic and thermoset composites deposited in sanitary landfills and incinerated are unlikely to continue. It is expected that with the new carbon-fiber reinforced-polymer (CFRP) waste management guidelines, most industries, and scientific research will develop viable and profitable methodologies for the reuse and recycling of this waste and that can be inserted into the economy for the manufacture of new components for the most diverse sectors automotive industry.