In order to achieve high-quality and high-efficiency cutting of carbon fiber reinforced composites, water-jet guided laser processing is used for the CFRP microgroove processing. The influence of the laser power, scanning speed and scanning path overlap rate on the width of the heat-affected zone and the material removal rate are investigated by the orthogonal and one-factor experimental methods and optimized with this goal in mind. The results show that the laser power and the overlap rate of the scanning path have a significant effect on the width of the heat-affected zone and the material removal rate. When the laser power is 35 W, the scanning speed is 4 mm/s and the scanning path overlap rate is 40%, the width of the heat-affected zone is 184.484 μm, and the material removal rate is 0.068 mm³/s, which can obtain smaller width of the heat-affected zone and higher processing efficiency.