The present study deals with the synthesis of gold nanoparticles (AuNPs) reinforced functionalized single-walled carbon nanotubes (f-SWNTs)/multi-walled carbon nanotubes (f-MWNTs) based polyaniline (PANI) ternary nanocomposites, using in situ polymerization process to analyze the thermal, dielectric and sensing properties. The chemical interaction and nanostructure characteristics of the synthesized nanocomposites are studied using ultraviolet-visible (UV-Vis) spectroscopy, Fourier transform infrared (FTIR) spectroscopy, Raman spectroscopy, X-ray diffraction (XRD) analysis, and X-ray photoelectron spectroscopy (XPS). The morphological characterizations of the nanocomposites are investigated by scanning electron microscopy (SEM) and field emission scanning electron microscopy (FESEM). The dispersion stability and average size distribution of the nanocomposites are examined by means of dynamic light scattering (DLS) technique. The thermal and dielectric properties of the nanocomposites are carried out by using thermogravimetry-differential scanning calorimetry (TG-DSC) and dielectric relaxation spectroscopy (DRS), respectively. The sensing behavior of the nanocomposites is analyzed through UV-Vis spectroscopy. The thermal, dielectric, and sensing properties of the Au@f-SWNTs and Au@f-MWNTs nanohybrids embedded PANI ternary nanocomposite is significantly increased due to the strong interfacial interactions originated between the hybrid nanofiller and PANI matrix.