Antistatic packaging film plays an important role in protecting sensitive electronic components from the damage of electrostatic discharge (ESD) during transportation and application. Considering the antistatic property and environmental friendliness of polyvinyl alcohol (PVA), PVA was chosen as matrix to prepare PVA/carbon fiber (CF) composite film via melt casting and asynchronous biaxial stretching. The addition of CF made more perfect conductive pathway formed in system, thus improving the electric property of the composite precursor sheet. And the subsequent biaxial stretching further promoted the cross arrangement of CF as well as the orientation of PVA molecular chains, so endowed the stretched composite film with excellent mechanical, antistatic and water‐resistant properties. When CF content was 5 wt% and the stretching ratio was 3.0 × 3.0, the tensile strength, volume resistivity and water contact angle of the composite film reached 69.4 MPa, 1.07 × 105 Ω·cm, and 74.7° respectively, which met the requirements of electrostatic dissipation packaging. This work highlights the structural evolution of PVA/CF composites under biaxial stretching and spurs the devising of antistatic packaging materials.