Carbon fiber-reinforced polymers are considered a promising composite for many industrial applications including in the automation, renewable energy, and aerospace industries. They exhibit exceptional properties such as a high strength-to-weight ratio and high wear resistance and stiffness, which give them an advantage over other conventional materials such as metals. Various polymers can be used as matrices such as thermosetting, thermoplastic, and elastomers polymers. This comprehensive review focuses on carbon fiber-reinforced thermoplastic polymers due to the advantages of thermoplastic compared to thermosetting and elastomer polymers. These advantages include recyclability, ease of processability, flexibility, and shorter production time. The related properties such as strength, modulus, thermal conductivity, and stability, as well as electrical conductivity, are discussed in depth. Additionally, the modification techniques of the surface of carbon fiber, including the chemical and physical methods, are thoroughly explored. Overall, this review represents and summarizes the future prospective and research developments carried out on carbon fiber-reinforced thermoplastic polymers.