The invention discloses a carbon fiber reinforced composite material. The composite material is prepared from, by weight, 10-40 parts of short carbon fibers, 40-60 parts of polypropylene, 10-30 partsof compatilizer, 0.1-4 parts of surface treating agent, 5-15 parts of modifying agent, 1-5 parts of lubricating agent and 5-20 parts of fire retardant. Compared with the prior art, by adding the different compatilizer, the short carbon fibers which are treated through liquid state oxidation, and other auxiliary modifiers, the carbon fiber reinforced composite material is prepared, through the formula, the intermolecular binding force can be increased to promote binding of polymers, and then the blends are high in strength, high in mechanical property, low in cost, environmentally friendly andhigh in flame retardant property. The composite material can be used for parts of a car, various indexes are higher than those of existing parts, the security coefficient of the car can be greatly improved, and the composite material is wide in market development prospect.