Display omitted •The mechanisms of microwave absorption were analyzed in detail.•The preparation methods of carbon/magnetic metal composites were summarized.•Composites with different components, morphologies and structures were reviewed.•Challenges and future prospects for carbon/magnetic metal composites were proposed. At present, developing high-efficiency microwave absorption materials with properties including light-weight, thin thickness, strong absorbing intensity and broad bandwidth is an urgent demand to solve the electromagnetic pollution issues. An ideal microwave absorber should have excellent dielectric and magnetic loss capabilities, thereby inducing attenuation and absorption of incident electromagnetic radiation. Recently, various carbon/magnetic metal composites have been developed and expected to become promising candidates for high-performance microwave absorbers. In this review, we introduce the mechanisms of microwave absorption and summarize the recent advances in carbon/magnetic metal composites. Preparation methods and microwave absorption properties of carbon/magnetic metal composites with different components, morphologies and microstructures are discussed in detail. Finally, the challenges and future prospects of carbon/magnetic metal absorbing materials are also proposed, which will be useful to develop high-performance microwave absorption materials.