Silicone rubber foam as a new type of polymer foam system not only maintains high temperature resistance of silicone rubber materials, UV resistance, chemical stability and other characteristics, but also possesses flexibility of lightweight foam materials, compression and good elasticity and other excellent features. In recent years, introduction of functional fillers into silicone rubber foam to fabricate multi-functional silicone rubber foam composites has attracted considerable research interest. This review summarizes recent progress of silicone rubber foam composites. First, we analyzed and compared various fabrication methods of silicone rubber foam and their advantages and disadvantages. Then, mechanical performance, electrically and thermally conductive and flame retardant properties of the silicone rubber foam composites were discussed. Various applications of silicone rubber foam composites in oil-water separation, sensors, biomedicine, and so on were introduced. Finally, we outlook the future design and development of high-performance silicone rubber foam composites as well as their future prospects in this rapidly emerging field.