Green natural rubber (NR) composites reinforced with synthetic graphite platelets, using alginate as a thickening and dispersing agent, were successfully developed to improve mechanical properties, chemical resistance, and electrical conductivity. The fabrication was performed using a latex aqueous microdispersion process. The research demonstrated the effective incorporation of graphite platelets into the NR matrix up to 60 parts per hundred rubbers (phr) without causing agglomeration or phase separation. Graphite incorporation significantly improved the mechanical strength of the composite films. NR with 60 phr of graphite exhibited the highest Young’s modulus of 12.3 MPa, roughly 100 times that of the neat NR film. The reinforcement also strongly improved the hydrophilicity of the composite films, resulting in a higher initial water absorption rate compared to the neat NR film. Moreover, the incorporation of graphite significantly improved the chemical resistance of the composite films against nonpolar solvents, such as toluene. The composite films exhibited biodegradability at about 21% to 30% after 90 days in soil. The electrical conductivity of the composite films was considerably enhanced up to 2.18 × 10−4 S/cm at a graphite loading of 60 phr. According to the improved properties, the developed composites have potential applications in electronic substrates.