Shape memory polymers (SMPs) with variable stiffness properties become the most promising candidate materials for morphing skins. Due to the influence of external environment, electric-driven composite skin is becoming the trend of development. In this paper, rubber toughed hydro-epoxy morphing skins filled with conductive carbon black (CB) and short-cut carbon fiber (SCF) were prepared. The total mass fraction of CB and SCF was fixed at 2.6 wt %. By adjusting the content ratio of CB and SCF (CB/SCF), the in-plane mechanical property, fracture morphology, thermal-mechanical behavior, electronic resistivity, and out-of-plane shape memory behavior of five types of skin were investigated. These results showed that the addition of CB and SCF had a synergistic effect on skin performance. When CB/SCF was 5:5, the composite skin had the highest tensile strength and the lowest glass transition temperature (Tg). In the thermo-active shape memory test, the composite skin presented good shape fixity rate (Rf) and shape recovery rate (Rr). Due to the bridging effect of SCFs on CB particles, the composite skin with CB/SCF ratio of 5:5 has the minimum resistivity and can return to its initial shape within 29 s at 60 V.