Abstract: Calcium ferrite (CF) is recognized as a potential green and efficient functional material because of its advantages of magnetism, electrochemistry, catalysis, and biocompatibility in the fields of materials chemistry, environmental engineering, and biomedicine. Therefore, the obtained research results need to be systematically summarized, and new perspectives on CF and its composite materials need to be analyzed. Based on the presented studies of CF and its composite materials, the types and structures of the crystal are summarized. In addition, the current application technologies and theoretical mechanisms with various properties in different fields are elucidated. Moreover, the various preparation methods of CF and its composite materials are elaborated in detail. Most importantly, the advantages and disadvantages of the synthesis methods of CF and its composite materials are discussed, and the existing problems and emerging challenges in practical production are identified. Furthermore, the key future research directions of CF and its composite materials have been prospected from the potential application technologies to provide references for its synthesis and efficient utilization.