<p>Carbon fiber composites are widely utilized in aerospace, automotive, sports equipment, and shipbuilding due to their light weight, high strength, corrosion resistance, and excellent thermal properties. Enhanced performance, substantial weight reduction, and improved fuel efficiency are significantly contributed by these materials. Ultrasonic vibration-assisted machining of carbon fiber-reinforced plastic composites is distinguished by its ability to enhance machining quality, efficiency, and material integrity. It achieves this by reducing cutting forces, minimizing delamination, and improving surface finish. However, its complexities in vibration mechanics and thermal interactions, along with its limitations such as tool wear and process instability under varying conditions, remain inadequately explored. Initially, various ultrasonic machining approaches for carbon fiber composites were surveyed in this paper, encompassing one-dimensional, two-dimensional, and three-dimensional techniques. Subsequently, prevailing simulation research on ultrasonic vibration-assisted machining from both macroscopic and microscopic perspectives was investigated. Furthermore, the impact of vibration, cutting, and cooling parameters on machining outcomes and the strategies for optimizing these process parameters were discussed. Finally, a comprehensive summary and future outlook on research into ultrasonic vibration-assisted machining of carbon fiber composites is provided in this paper.</p>