AbstractShort fiber‐reinforced thermoplastic (SFRT) composites are drawing increasing academic and industrial interest owing to their outstanding mechanical properties, good economic efficiency, excellent designability, and recyclability. This review primarily introduces several common SFRT manufacturing methods and analyzes their advantages and disadvantages. The stress transfer and damage mechanisms in the SFRT, as well as the effects of the fiber length, fiber volume fraction, fiber orientation, fiber kinds, matrix, and interface, are discussed in depth. The review also discusses the most widely applied rule of mixture for elastic modulus prediction, the Kelly–Tyson model and the Bowyer–Bader model for strength prediction. Overall, this review summarizes the latest research developments on SFRT composites with the aim of providing literary support for their future development.