The relation between microstructure and electrical properties of polymer reinforced by electrically conducting nanofibers is investigated using a RC type simulation. Real and imaginary parts of the conductivity vs. the frequency and the filler fraction are presented both for two‐ and three‐dimensional systems. In the latter case, resistor and capacitor values are deduced from a random microstructure and the measured macroscopic properties of each component. These results are compared with experimental data obtained on a nanocomposite material composed of electrically conductive fillers dispersed in an insulating matrix. © 1999 John Wiley & Sons, Inc. J Polym Sci B: Polym Phys 37: 805–814, 1999