In this study, silver nitrate was added to polyacrylonitrile filament structure and chemical reduction was applied to composite filaments in order to develop multifunctional polyacrylonitrile filaments with electrostatic dissipative and antibacterial properties. Composite filaments of polyacrylonitrile and silver nitrate were characterized and evaluated in terms of morphology, chemical structure, tensile properties, crystallinity, conductivity, thermal properties, silver ion release behaviour and antibacterial activity. Additionally, ultraviolet-visible spectroscopy was used to confirm the formation of nanoparticles and the variation in the concentration of the nanoparticles with the application of the chemical reduction process. Scanning electron microscope images and ultraviolet-visible spectroscopy results confirmed the formation of nanoparticles in the filament structure. Breaking strength and breaking elongation increased at silver nitrate content of 1%. Composite filaments displayed improved thermal stability and their conductivities were in the semiconductive range. Atomic absorption spectroscopy confirmed that necessary amounts of silver release for antibacterial activity occurred, while the antibacterial activity analysis showed that the composite filaments have excellent antibacterial activity. The results obtained were promising and showed that the composite filaments could be used in electrostatic dissipative and antibacterial applications.