The potential impact of light-weight structures with multifunctional properties for engineering applications drives significant research and development activities on nanocomposites. Polymer nanocomposites especially those with carbon nanotubes (CNTs) are very attractive for conductive composites with good structural characteristics. The biggest challenge facing the commercial success of CNT based composites is the intrinsic strength of their agglomerates which prevents good filler dispersion in the matrix, a key attribute for any reinforcement. This chapter is a review of the CNT incorporated thermoplastic composites processed mainly containing economic multi-walled carbon nanotubes (MWCNTs). We present an overview of CNTs (their structure, production process, properties, surface modification, applications etc.) and the mechanism of their dispersion in thermoplastic matrices. The processing of thermoplastic matrices via the conventional twin-screw compounding approach is discussed along with the influence of process parameters on MWCNT dispersion. The role of secondary processing operation on composite properties is also highlighted. The mechanical, electrical and thermal properties of the thermoplastic-CNT composites are reviewed highlighting the key findings and shortcomings. We conclude throwing some light on the developments on multi-scale reinforcements in polymeric matrices.