Shape memory polymers (SMP) are utilized in diverse fields, including deployable structures and components, owing to their advantageous properties like low density, cost-effectiveness, and ease of processing. The current study investigates the effect of dual dispersion of carbon fibers (CF) and silica nanoparticles (SN) on the recovery performance of shape memory epoxy composites. CF (0.25 wt.%) reinforced epoxy composite, SN (0.25 wt.%) reinforced epoxy composite, and dual (CF and SN 0.25 wt.% each) dispersed epoxy composite were developed using magnetic stirring and ultrasonic mixing to study the mechanical properties and shape memory behaviour. Flexural strength, tensile strength and fracture toughness of pristine epoxy was found to be 134.38 MPa, 52.15 MPa and 1.91 MPa∙m1/2, respectively. The addition of CF resulted in a flexural strength of 135.70 MPa and a tensile strength of 53.01 MPa, while the incorporation of SN led to a flexural and tensile strength of 138.40 MPa and 53.69 MPa, respectively. The fracture toughness of composites after adding CF and SN was found to be 2.22 MPa∙m1/2 and 2.39 MPa∙m1/2, respectively. With dual dispersion, the flexural strength of 139.82 MPa, tensile strength of 54.64 MPa, and fracture toughness of 2.75 MPa∙m1/2 were achieved. Dual dispersion has shown improved mechanical properties compared to single dispersion. The introduction of CF slightly decreased the shape fixity ratio (Rf) and shape recovery ratio (Rr) of the pristine epoxy from 98.67% and 96.62% to 96.67% and 95.15%, respectively. Similarly, the addition of SN further reduced these ratios to 98.00% and 91.83%, respectively. With a dual dispersion approach Rf and Rr were observed to be about 97.33% and 93.83%, respectively. The addition of fillers led to a reduction in Rf and Rr due to inhibition of polymeric chains, resulting in partial shape recovery. However, recovery time improved from 28 s to 23 s and 26 s with addition of CF and SN, respectively, in epoxy. With dual dispersion, a speedy recovery was achieved with a recovery time of 21 s. The findings of this study demonstrate the potential of dual dispersed fillers to improve the mechanical and shape memory properties of epoxy, which could find applications in the smart materials and structural engineering.