In this paper, investigation on fiber laser cutting of CFRP was carried out through establishing a multi-physical finite element model and cutting experiment. A multi-physical field model of laser cutting of CFRP was established. Experiments on 1 kW fiber laser cutting of 1 mm CFRP was performed. The relationship between cutting quality (slit width, notch taper, and HAZ width) and laser process parameters such as laser power and cutting speed was investigated. The results show that the transfer of laser energy in CFRP is mainly along the direction of fiber laying, and the heat transfer speed in carbon fiber is much faster than that in resin. The width of the slit, HAZ and the notch taper all increase with the increasing of laser power. However, the width of slit and HAZ decrease as the cutting speed increase and the notch taper increased first and then decreased. When the laser power is 150 W and the cutting speed is 1 m/min, the cutting quality is better.