Abstract: Shape memory polymer fibers and reinforced composites are novel smart materials developed from shape memory polymers. They have advantages of light weight, low price, excellent deformation capability, reversible modulus, various driving methods and simple structures. Furthermore, they have some characteristics, like high elastic modulus, large recovery stress, etc., that can effectively amend the shortcomings of traditional shape memory polymers. This article first outlines the driving methods of shape memory polymer fibers and fiber reinforced shape memory polymers, and summarizes the spinning methods of shape memory polymer fibers. Then the potential applications of shape memory polymer fibers and fiber reinforced shape memory polymers in various fields are analyzed. Finally, the current problems are discussed and the future research is prospected.