In the past decade, there has been rapid growth in the miniaturization of electronic devices without compromising their performance for a particular application. Due to electromagnetic interference, the performance of those devices can be affected very seriously and hence there is a requirement to develop electromagnetic interference shielding materials. Compared to metals, conducting polymer nanocomposites can be developed as an efficient EMI shielding material. Thus, this chapter presents a detailed review of the research developments on nanocomposites formed by meticulous mixing of conducting polymer and nanoclay in appropriate proportions, specifically applied as microwave absorption materials. Employing nanoclay into the conducting polymers is found to improve the overall EMI shielding material’s mechanical strength, dielectric properties, thermal stability, barrier properties and most importantly the shielding efficiency.