Due to their unique structures and superior mechanical, electrical, and other physical properties, carbon nanotubes (CNTs) have shown great potential as building blocks for a variety of novel high-performance materials. CNT films, which can be synthesized via CVD methods as well as wet processing approaches, have been proven to be promising for using as composite reinforcements, electric conductors, thermal management materials, etc. Floating catalyst chemical vapor deposition (FCCVD) is a simple and environmentally friendly process among the preparation methods of CNT films. It has the advantages of low cost and mass production, and is very helpful for the large-scale preparation of high-performance CNT films. In this review, we first briefly discuss development of FCCVD technology. Then the CNT growth mechanism in the FCCVD process and the relationship between key process parameters and quality/structure property of CNT film are discussed in-depth. The unique properties and the state-of-the-art applications of the CNT films in composite and some other application fields are overviewed in detail. Finally, the opportunities and remaining challenges toward its real applications are prospected.