This study aims to disclose the thermo-oxidative degradation behaviors and kinetics of a carbon fiber reinforced polyimide (CFRPI) composite for modeling of the long-term degradation process. The degradation behaviors were revealed through off-gas products analysis, and the overall kinetic interpretation was achieved from study of the mass-loss curves recorded under dynamic conditions. It was found that thermo-oxidative degradation of the CFRPI composite was a multistep process, which included four main reaction steps. Since most kinetic analysis methods were derived from simple reactions described by a single kinetic triplet, they cannot be applied reliably to such a process. Therefore, we firstly separated the four overlapped reaction steps by peak fitting of derivative thermogravimetric curves using Frasier-Suzuki equation considering the asymmetrical nature of kinetic curves, and subsequently analyzed each individual reaction employing Friedman method and experimental master-plots method. Four sets of kinetic triplets were determined to characterize the entire degradation process. The validity of four corresponding kinetic triplets was confirmed by perfect simulation of mass-loss curves recorded at both dynamic conditions used in kinetic analysis and entirely different isothermal conditions. Finally, modeling of long-term aging at 400 °C of the CFRPI composite was successfully achieved based on these kinetic triplets. The predicted mass loss and flexural property correlated well with experimental results. This study can serve as a basis for rapid evaluation of the long-term durability of the CFRPI composite in various application environments.