Elastomer composites with low hysteresis are of great importance for sustainable development, as they find application in billions of tires. For these composites, a filler such as silica, able to establish a chemical bond with the elastomer chains, is used, in spite of its technical drawbacks. In this work, a furnace carbon black (CB) functionalized with polar groups was used in replacement of silica, obtaining lower hysteresis. CBN326 was functionalized with 2-(2,5-dimethyl-1H-pyrrol-1-yl)-1,3-propanediol (serinol pyrrole, SP), and samples of CB/SP adducts were prepared with different SP content, ranging from four to seven parts per hundred carbon (phc). The entire process, from the synthesis of SP to the preparation of the CB/SP adduct, was characterized by a yield close to 80%. The functionalization did not alter the bulk structure of CB. Composites were prepared, based on diene rubbers—poly(1,4-cis-isoprene) from Hevea Brasiliensis and poly(1,4-cis-butadiene) in a first study and synthetic poly(1,4-cis-isoprene) in a second study—and were crosslinked with a sulfur-based system. A CB/silica hybrid filler system (30/35 parts) was used and the partial replacement (66% by volume) of silica with CB/SP was performed. The composites with CB/SP exhibited more efficient crosslinking, a lower Payne effect and higher dynamic rigidity, for all the SP content, with the effect of the functionalized CB consistently increasing the amount of SP. Lower hysteresis was obtained for the composites with CB/SP. A CB/SP adduct with approximately 6 phc of SP, used in place of silica, resulted in a reduction in ΔG′/G′ of more than 10% and an increase in E’ at 70 °C and in σ300 in tensile measurements of about 35% and 30%, respectively. The results of this work increase the degrees of freedom for preparing elastomer composites with low hysteresis, allowing for the use of either silica or CB as filler, with a potentially great impact on an industrial scale.