The preparation methods, microstructures and properties of continuous fiber-reinforced aluminum, magnesium and titanium matrix composites are summarized. The existing problems are pointed out and a new method of preparing the fiber reinforced metal matrix composites by laser cladding is put forward. The fibers are embedded into the cladding powder first and then processed by laser cladding rapidly. This method can precisely control the processing parameters, reduce the processing time, and make the composites with a better performance be obtained.