Remarkably, MATLAB does not have in-built support for exporting figures as EPS files with placeholders plus a TEX file (hence allowing LaTeX to do the typesetting).  But there are some user-submitted scripts.  The most promising looks to be matlabfrag.

After producing a figure in MATLAB, output an  .eps file like this:

% FORMAT TICK MARKS
set(gca, 'TickDir', 'out', 'XColor', [0.25 0.25 0.25], 
    'YColor', [0.25 0.25 0.25]);
set(gca, 'YLim', [0 200], 'YTick', [0 100 200], 'YTickLabel', []);
box off; % remove axes on right and top
 
% SET SIZE OF FIGURE
set(gcf,'units','centimeters');
pos = get(gcf, 'position');
set(gcf, 'position', [pos(1:2),5 ,5]); % make figure 5cm x 5cm
 
% OUTPUT
matlabfrag('filename'); % export a .tex and a .eps file using matlabfrag
                        % do not specify a suffix

And then in the LaTeX document use \psfragfig{filename} (no suffix; just the base of the filename) to insert the figure. You’ll also need to add \usepackage{graphicx} and \usepackage{pstool} to the LaTeX file’s preamble.