In this study, recycled carbon fibers (rCFs) recovered from waste carbon composites were used to manufacture wet-laid nonwoven fabrics. The aim was to improve dispersibility by investigating the changes in the dispersibility of carbon fibers (CFs) based on the content of the dispersant carboxymethyl cellulose (CMC) and the binder polyvinyl alcohol (PVA), and the length and basis weight of the CFs. In addition, the chemical property changes and oxygen functional group mechanisms based on the content of the CMC dispersant and PVA binder were investigated. The nonwoven fabrics made with desized CFs exhibited significantly improved dispersibility. For nonwoven fabrics produced with a fixed binder PVA content of 10%, optimal dispersibility was achieved at a dispersant CMC concentration of 0.4%. When the dispersant CMC concentration was fixed at 0.4% and the binder PVA content at 10%, the best dispersibility was observed at a CF length of 3 mm, while the maximum tensile strength was achieved at a fiber length of 6 mm. Dispersibility remained almost consistent across different basis weights. As the dispersant CMC concentration increased from 0.2% to 0.6%, the oxygen functional groups, such as carbonyl group (C=O), lactone group (O=C-O), and natrium hydroxide (NaOH), also increased. However, hydroxyl group (C-O) decreased. Moreover, the contact angle decreased, while the surface free energy increased. On the other hand, when the dispersant CMC concentration was fixed at 0.4%, the optimal binder PVA content was found to be 3%. As the binder PVA content increased from 0% to 10%, the formation of hydrogen bonds between the CMC dispersant and the PVA binder led to an increase in C=O and O=C-O bonds, while C-O and NaOH decreased. As the amount of oxygen increased, the contact angle decreased and the surface free energy increased.