The present study reports on a simple and very efficient solution mixing method for the preparation of functionalized multiwalled carbon nanotube/polyaniline nanocomposites (f‐MWCNT/PANI) for electromagnetic interference (EMI) application. The synthesized composites have been characterized by different physiochemical techniques such as scanning electron microscopy (SEM), transmission electron microscopy (TEM), X‐ray diffractometry (XRD), and Fourier transform infrared (FT‐IR) spectroscopy. The electron microscopy analysis of nanocomposites reveals the good dispersion and agglomeration of CNT in PANI matrix at higher concentration. X‐ray study shows the higher crystallinity of PANI with the addition of f‐MWCNT. FTIR spectroscopy has confirmed the interactions of the carbonyl group of f‐MWCNT with the quinoid ring of PANI. The resulting f‐MWCNT/PANI nanocomposites (0 to 21 vol% CNT) shows higher electrical conductivity than that of pure PANI due to the formation of conducting path between CNT and PANI matrix. The increased electrical conductivity of nanocomposites also improved the estimated EMI shielding. The percolation threshold was found to occurs at 0.1 vol% of f‐MWCNT, where the DC electrical conductivity started to increase abruptly. The one‐order increment in electrical conductivity was observed which is 12 times more than that of pure PANI. The DC electrical conductivity of nanocomposite at 3.3 vol% and 13.9 vol% of f‐MWCNT was 1.6 × 10−1 S/cm and 1.8 × 10−1 S/cm, respectively. In addition, the estimated EMI shielding of nanocomposites at 3.3 vol% of f‐MWCNT and beyond it was found to be 12dB. POLYM. COMPOS., 39:3858–3868, 2018. © 2017 Society of Plastics Engineers