The present invention discloses one kind of carbon fiber reinforced Ni-base composite material and its preparation process, and relates to metal-base composite material. The carbon fiber reinforced Ni-base composite material consists of carbon fiber 30-35 vol%, Cu 6-8 vol %, and Ni 57-64 vol %. The technological process of preparing the composite material includes the steps of: pre-treatment of carbon fiber, electrodepositing Cu, washing, neutralizing, electrodepositing Ni, electrodepositing Ni to form, washing, stoving, cutting, vacuum hot pressing in mold, and cooling in the furnace. The present invention prepares the composite material in a three-step electrodepositing process, and the composite material has high heat strength, high elastic modulus, low density, high smelting point and other advantages, and may be used in the vane of gas-burning turbine engine, etc.