Fiber-reinforced resin composites (FRRCs) are widely used in several fields such as construction, automotive, aerospace, and power. Basalt fiber (BF) has been increasingly used to replace artificial fibers such as glass fiber and carbon fiber in the production of BF-reinforced resin matrix composites (BFRRCs). This preference stems from its superior properties, including high temperature resistance, chemical stability, ease of manufacturing, cost-effectiveness, non-toxicity, and its natural, environmentally friendly characteristics. However, the chemical inertness of BF endows it with poor compatibility, adhesion, and dispersion in a resin matrix, leading to poor adhesion and a weak BF-resin interface. The interfacial bonding strength between BF and resin is an important parameter that determines the service performance of BFRRC. Therefore, the interfacial bonding strength between them can be improved through fiber modification, resin-matrix modification, mixed enhancers, etc., which consequently upgrade the mechanical properties, thermodynamic properties, and durability of BFRRC. In this review, first, the production process and properties of BFs are presented. Second, the mechanical properties, thermodynamic properties, and durability of BFRRC are introduced. Third, the modification effect of the non-destructive surface-modification technology of BF on BFRRC is presented herein. Finally, based on the current research status, the future research direction of BFRRC is proposed, including the development of high-performance composite materials, green manufacturing processes, and intelligent applications.