Today’s 3D electronic packaging is characterized by smaller size and higher functional density, which generally require multiple reflow cycles. However, due to the Ostwald ripening process of the interfacial intermetallic compound (IMC), the solder joint’s strength would decrease as the number of reflow cycles increases. To address this, we developed a novel composite solder by incorporating nickel-coated carbon fiber (Ni@CF) into the Sn–3.0Ag–0.5Cu (SAC305) solder connection. The study showed that Ni@CF effectively enhanced the stability and reliability of solder joints during multiple reflow processes. Compared with Ni@CF-free equivalents, Ni@CFs promoted the nucleation of interfacial IMC during the solid–liquid reaction and inhibited Ostwald ripening, leading to a refinement of the interfacial IMC grains. As a result, the interface was strengthened, and the shift of shear fracture to the brittle interface seen in the SAC305 solder joint with multiple reflows did not occur in the composite solder joint. Furthermore, carbon fiber strengthened the solder matrix through the load transfer and shear-off mechanisms, depending on its inclination angle with the shear plane. Consequently, the Ni@CFs-reinforced solder joints maintained a shear strength of over 42 MPa throughout ten reflow cycles, while the pristine SAC305 solder joint exhibited decreased shear strength to 33 MPa. This study provides new insights into composite solder joints’ stability and reinforcement characteristics when subjected to multiple reflows.