There is increased interest in applying electromagnetic (EM) shielding to prevent EM interference, which destroys electronic circuits. The EM shielding’s performance is closely related to the electrical conductivity and can be improved by incorporating conductive materials. The weight of a structure can be reduced by incorporating lightweight aggregates and replacing the steel rebars with CFRP rebars. In this study, the effects of lightweight coarse aggregate and CFRP rebars on the mechanical and electrical characteristics of concrete were investigated, considering the steel fibers’ incorporation. The lightweight coarse aggregates decreased the density and strength of concrete and increased the electrical conductivity of the concrete, owing to its metallic contents. The steel fibers further increased the electrical conductivity of the lightweight aggregate concrete. These components improved the EM shielding performance, and the steel fibers showed the best performance by increasing shielding effectiveness by at least 23 dB. The CFRP rebars behaved similarly to steel rebars because of their carbon fiber content. When no steel fiber was mixed, the shielding effectiveness increased by approximately 2.8 times with reduced spacing of CFRP rebars. This study demonstrates that lightweight aggregate concrete reinforced with steel fibers exhibits superior mechanical and electrical characteristics for concrete and construction industries.