Due to the presence of internal defects such as voids in the composites manufactured by material extrusion additive manufacturing (MEX AM), the mechanical properties of the composites are significantly below the theoretical optimum. Under this circumstance, this paper is intended to investigate the effects of nozzle feeding angles and to analyze the void formation and evolution of multiphase flow, in which systematic computational fluid dynamics numerical simulations are conducted. The volume of fluid model and overset grid method are used to simulate the extrusion deposition process of carbon fiber-reinforced polymer composites, and the Carreau model is used to represent the shear-thinning behavior of molten polymer. The numerical method is validated against previously experimental and numerical simulation data. The numerical results show that the key factor leading to void formation is the vortices caused by fiber oscillation. The intense vortex at the front end of the fibers disrupts the interface between molten polymer and air, creating a beneficial condition for air to enter. Nozzle tilting can effectively reduce the probability of void formation by decreasing the fiber oscillation velocity. The results of the present study provide insights into the development and optimization of printer nozzles to enable the printing of longer fibers with less probability of potential void formation.