The effects of hybrid fillers of carbon fiber (CF) and multiwall carbon nanotube (MWCNT) on the electrical conductivity, electromagnetic interference shielding effectiveness (EMI SE), flame retardancy, and mechanical properties of poly(butylene terephthalate) (PBT)/poly(acrylonitrile‐co‐styrene‐co‐acrylate) (PolyASA) (70/30, wt %) with conductive filler composites were investigated. The CF was used as the main filler, and MWCNT was used as the secondary filler to investigate the hybrid filler effect. For the PBT/PolyASA/CF (8 vol %)/MWCNT (2 vol %) composite, a higher electrical conductivity (1.4 × 100 S cm−1) and EMI SE (33.7 dB) were observed than that of the composite prepared with the single filler of CF (10 vol %), which were 9.0 × 10−2 S cm−1 and 23.7 dB, respectively. This increase in the electrical properties might be due to the longer CF length and hybrid filler effect in the composites. From the results of aging test at 85 °C, 120 h, the electrical conductivity and EMI SE of the composites decreased slightly compared to that of the composite without aging. The results of electrical conductivity, EMI SE, and flame retardancy suggested that the composite with the hybrid fillers of CF and MWCNT showed a synergetic effect in the PBT/PolyASA/CF (8 vol %)/MWCNT (2 vol %) composite. © 2019 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2019, 136, 48162.