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Thermoplastic carbon fiber fabric reinforced composites (CFFRCs) were prepared using a novel fast manufacturing process with a low viscosity polymerizable cyclic butylene terephthalate (CBT) resin. Structure and properties of the composites altered by thermal annealing were investigated to develop appropriate post processing of the CFFRCs for fast production and lowering the processing cost. Annealing at 200°C for 120 min resulted in improved mechanical properties and thermal stability of the polymerized CBT (pCBT) based on differential scanning calorimetry, wide-angle X-ray diffraction, and thermo gravimetric analysis. The tensile strength of the CFFRC compression molded at 250°C for 2 min was 440 MPa and that of the CFFRC annealed at 200°C for 120 min after compression molding was 500 MPa, which is an improvement of 550 and 625% relative to the pCBT matrix, respectively. In addition, the thermal stability of the CFFRC annealed at 250°C for 120 min improved by 10°C. Therefore, tensile strength and thermal stability of the manufactured CFFRC can be improved by using the appropriate annealing conditions. POLYM. ENG. SCI., 54:2161–2169, 2014. © 2013 Society of Plastics Engineers