Electromagnetic radiation interference (EMI) or pollution is increased significantly in proportion to the expansion of electronic and communication industries, which lead to the disturbance of the functioning of electronic gadgets and medical equipments, in addition to the human health damage. The Microwave absorbing (MA) composite comprised of polyvinyl alcohol (PVA), polyaniline (PANI), carbon nanotube (MWCNT) and iron oxide (Fe3O4) has been developed with various proportions, denoted as PVA/PANI/MWCNT/Fe3O4 (1%, 3%, 5%). Fe3O4 was prepared using a hydrothermal method, and PVA/PANI/MWCNT/Fe3O4 (1%, 3%, 5%) nanocomposites was made by solvent casting techniques. The PVA composite films were also subjected to a range of analyses including IR, TGA, DTA, DTG, SEM, TEM, dielectric measurements and EMI shielding effectiveness (EMI SE), to describe their characteristics. The results of various studies indicate that the PVA/PANI/MWCNT/Fe3O4 (1%, 3%, 5%) composites possess enhanced thermal and dielectric characteristics, for instance the PVA/PANI/MWCNT/5% Fe3O4 blend nanocomposites possess 10% initial decomposition at 220°C and dielectric constant of 3.2 × 107 at 1 MHz. The total EMI SE value for the synthetic PVA/PANI/MWCNT/Fe3O4 was found at 9.2 and 10 GHz is 48 and 54 dB, respectively, exhibiting synergistic properties of the composites toward EMI shielding. The microwave absorption spectra indicate two absorption peaks in the region around 8 to 12 GHz, with the absorption reflection loss (RL) value of −20 dB at 10 GHz for the PVA/PANI/MWCNT/5% Fe3O4 nanocomposites.