The multiwalled carbon nanotubes/BaFe12O19-chitosan (MCNTs/BF-CS) Schiff base Ag (I) complex composites were synthesized successfully by a chemical bonding method. The morphology and structures of the composites were characterized with electron microscopy, Fourier transform infrared spectroscopy and X-ray diffraction techniques. Their conductive properties were measured using a four-probe conductivity tester at room temperature, and their magnetic properties were tested by a vibrating sample magnetometer. The results show that the BF-CS Schiff base Ag (I) complexes are embedded into MCNT networks. When the mass ratio of MCNTs and BF-CS Schiff base is 0.95:1, the conductivity, Ms (saturation magnetization), Mr (residual magnetization), and Hc (coercivity) of the BF-CS Schiff base composites reach 1.908 S cm−1, 28.20 emu g−1, 16.66 emu g−1 and 3604.79 Oe, respectively. Finally, a possible magnetic mechanism of the composites has also been proposed.