With the increased level of integration and miniaturization of modern electronics, high-power density electronics require efficient heat dissipation per unit area. To improve the heat dissipation capability of high-power electronic systems, advanced thermal interface materials (TIMs) with high thermal conductivity and low interfacial thermal resistance are urgently needed in the structural design of advanced electronics. Metal-, carbon- and polymer-based TIMs can reach high thermal conductivity and are promising for heat dissipation in high-power electronics. This review article introduces the heat dissipation models, classification, performances and fabrication methods of advanced TIMs, and provides a summary of the recent research status and developing trends of micro- and nanoscale TIMs used for heat dissipation in high-power electronics.