Among the methods of fabrication of ceramic particles reinforced Metal Matrix Composites, the in-situ reaction synthesis technology has obvious technical and economical advantages over other traditional methods. The in-situ reactive technology has become the leading direction in composites research area in the past decade. The main in-situ reaction synthesis methods include XD, VLS, SHS, DIMOX, PRIMEX, RSD, CR, MA, etc. The principles, properties and prospective application of the main in-situ reaction synthesis methods are reviewed. The Metal Matrix Composites, prepared by in-situ reaction composite technology, can normally achieve higher mechanical properties than other traditionally prepared composites under the same condition. The in-situ reaction synthesis technology, with its wide raw material resources, low price, relatively simple processes, low cost preparation and application feasibility in large-scale industry process, is of great future.