Carbon nanotube (CNT) films are well known for their ultra-low density, high porosity, tunable conductivity and a number of other desirable characteristics. Integrating CNT films into composite materials would endow these structural materials with multifunctionality while adding only negligibly to their weight. This review introduces the fabrication of CNT films and presents the state-of-the-art research advances of CNT-film-enabled functions of composite materials, such as resistive heating, lightning strike protection, electromagnetic interference shielding, and structural health monitoring. Future research on CNT-film-based multifunctional composite materials is also discussed.