Peripheral nerve injuries can lead to sensory or motor deficits that have a serious impact on a patient’s mental health and quality of life. Nevertheless, it remains a major clinical challenge to develop functional nerve conduits as an alternative to autologous grafts. We applied reduced graphene oxide (rGO) as a bioactive conductive material to impart electrophysiological properties to the catheter and the application of a pulsed magnetic field to excite the formation of microcurrents and induce nerve regeneration. In vitro studies showed that the nerve conduit and the pulsed magnetic field made no effect on cell survival, increased S-100β protein expression, enhanced cell adhesion, and increased the expression level of nerve regeneration-related mRNAs. In vivo experiments suggested that the protocol was effective in promoting nerve regeneration, resulting in functional recovery of sciatic nerves in rats, when they were damaged close to that of the autologous nerve graft, and increased expression of S-100β, NF200, and GAP43. These results indicate that rGO composite nerve conduits combined with pulsed magnetic field stimulation have great potential for peripheral nerve rehabilitation.