<p>More advanced and effective precision polishing technology is constantly being pursued to address the technical challenges of precision finishing for key components such as complex curved surfaces and microchannels. Recently, composite polishing technology combining cavitation bubble collapse shockwaves with abrasives has become a new approach to overcoming the limitations of traditional polishing techniques. It has also demonstrated promising results and unique technical advantages. Based on the mechanism of cavitation, the recent advances in cavitation-assisted abrasive composite polishing are systematically reviewed, and this new composite polishing technology is summarized and prospected from the aspects of material removal mechanism, research methodologies, polishing effect, and application scope.</p>