Ever since the discovery of polymer composites, its potential has been anticipated for numerous applications in various fields such as microelectronics, automobiles, and industrial applications. In this paper, we review filler reinforced polymer composites for its enormous potential in microelectronic applications. The interface and compatibility between matrix and filler have a significant role in property alteration of a polymer nanocomposites. Ceramic reinforced polymeric nanocomposites are promising candidate dielectric materials for several micro‐ and nano‐electronic devices. Because of its synergistic effect like high thermal conductivity, low thermal expansion, and dielectric constant of ceramic fillers with the polymer matrix, the resultant nanocomposites have high dielectric breakdown strength. The thermal and dielectric properties are discussed in the view of filler alignment techniques and its effect on the composites. Furthermore, the effect of various surface modified filler materials in polymer matrix, concepts of network forming using filler, and benefits of filler alignment are also discussed in this work. As a whole, this review article addresses the overall view to novice researchers on various properties such as thermal and dielectric properties of polymer matrix composites and direction for future research to be carried out.