Abstract: Lignin is among the most important raw biomass materials used for the preparation of carbon fibers. In this review, research progress on lignin-based carbon fibers is summarized comprehensively with respect to methods of preparation, microstructures and main performance characteristics. Some suggestions for future research on lignin-based carbon fibers were also introduced. We expect to provide a general understanding of current research in the preparation of carbon fibers and a basic reference for scientific and efficient use of woody biomass resources.