Composite materials, which consist of at least two components (i.e., reinforcement and matrix), have been widely applied in modern industries such as aviation, construction, and automotive engineering. The interphase between reinforcements and the matrix is critical to the overall performance of resulting composite materials because it transfers stress from the matrix to reinforcements. In this chapter, various reinforcement and matrix materials and their composites are introduced. The mechanisms of forming interphase between reinforcements and matrices are elaborated based on the adhesion theory. Several conventional interphases of composite materials, such as fiber/metal, fiber/ceramic, and fiber/polymer interphases are discussed in detail. The microstructures of the interphase and their correlation to resulting mechanical properties are also presented. Finally, future research trends in this field are summarized for the prospects and advances in composite interphase.