Carbon nanomaterials with excellent mechanical and conductive performances, whose strength, modulus and thermal conductivity are much greater than metal materials, are one type of the best reinforcements for metal matrix composites. Compounding carbon nanomaterials with titanium and its alloys, by adjusting the content and distribution of carbon nanoreinforcements, is expected to noticeably improve the mechanical strength, electrical and thermal conductivity of the titanium matrix. Thus, nanocarbon/Ti composites may become structural and functional integrated material. However, the chemical compatibility between carbon and titanium is poor, so that they are prone to chemically react with each other during preparation process. It may cause the structural destruction of the carbon nano-reinforcement. Therefore, how to control the interface reaction between carbon nanoreinforcement and titanium matrix becomes a key to improving the performance of the composites. Based on this, the research progress of carbon/Ti composites by powder metallurgy methods was reviewed. The forming processes of carbon nanomaterials reinforced titanium composites (nano-carbon/Ti composites) were introduced, while its interface structure and properties were discussed. Finally, the critical problems and possible solutions of nano-carbon/Ti composites were summarized for guiding its future development.