The dimensional instability caused by irreversible micro-plastic deformation can be evaluated with the micro-yield strength. Cf/Mg composite material prepared by liquid-solid extrusion following vacuum infiltration(LSEVI) process was taken as testing material and its dimensional stability was evaluated. The load-unload cycle test method is used to explore the stress range for the Cf/Mg composite to generate residuals plastic strain in static conditions. The results show that micro-plastic deformation for Cf/Mg composite material occurred in the stress range between 35 and 45 MPa. When the micro-plastic strain reaches 10−5, the micro-yield strength of the Cf/Mg composite material is evaluated as 79MPa. Compared with matrix alloy, the micro-yield strength has increased by more than 89%, which is the same level as beryllium alloy. This paper provides an effective strategy for characterize the dimensional stability of continuous fibre reinforced metal matrix composites.