To reduce the use of carbon components sourced from fossil fuels, hemp fibers were pyrolyzed and utilized as filler to prepare EVA-based composites for automotive applications. The mechanical, tribological, electrical (DC and AC) and thermal properties of EVA/fiber biochar (HFB) composites containing different amounts of fibers (ranging from 5 to 40 wt.%) have been thoroughly studied. The morphological analysis highlighted an uneven dispersion of the filler within the polymer matrix, with poor interfacial adhesion. The presence of biochar fibers did not affect the thermal behavior of EVA (no significant changes of Tm, Tc and Tg were observed), notwithstanding a slight increase in the crystallinity degree, especially for EVA/HFB 90/10 and 80/20. Conversely, biochar fibers enhanced the thermo-oxidative stability of the composites, which increased with increasing the biochar content. EVA/HFB composites showed higher stiffness and lower ductility than neat EVA. In addition, high concentrations of fiber biochar allowed achieving higher thermal conductivity and microwave electrical conductivity. In particular, EVA/HFB 60/40 showed a thermal conductivity higher than that of neat EVA (respectively, 0.40 vs. 0.33 W·m−1 ·K−1); the same composite exhibited an up to twenty-fold increased microwave conductivity. Finally, the combination of stiffness, enhanced thermal conductivity and intrinsic lubricating features of the filler resulted in excellent wear resistance and friction reduction in comparison with unfilled EVA.