Recently, the rapid development of spaceflight has put forward higher requirements for thermal management materials. In order to meet the increasing demand for high thermal conductivity materials in aerospace, thermal conductivity materials of aerospace need to possess a variety of excellent comprehensive performances, such as high thermal conductivity, low density and high strength in space environment. This paper reviews the development of high thermal conductivity materials, metal matrix composites and carbon matrix composites, based on thermal conductivity mechanism of high thermal conductivity composites. The thermo-physical properties and preparation process of aluminum composites, copper composites, carbon foam and C/C composites are introduced, and the factors affecting their thermal conductivity are also analyzed. Considering the property and preparation process, the requirement and application of various high thermal conductivity materials in aerospace thermal control technology are summarized.