Disclosed is a metal-based carbon fiber composite material exhibiting an improved thermal expansion coefficient, improved thermal conductivity, and is smaller in weight, and a method for producing the same. The composite material includes a metal and a carbon fiber including a micron carbon fiber and a nanofiber; the composite material having a first surface; the micron-size carbon fiber being oriented in one direction parallel to the first surface and being continuous from end to end; at least 80% of the nanofiber being oriented at an angle within 30° with respect to the first surface; and the nano-size carbon fiber being oriented randomly in a plane parallel to the first surface. In the composite material, a surface region may include a smaller amount of micron carbon fiber than other regions, or include no micron carbon fiber; the nanofiber may have an orientation parallel to the surface of the composite material.