The remarkable electrical and thermal conductivities of isolated carbon nanotubes have spurred worldwide interest in using nanotubes to enhance polymer properties. Electrical conductivity in nanotube/polymer composites is well described by percolation, where the presence of an interconnected nanotube network corresponds to a dramatic increase in electrical conductivity ranging from 10−5 S/cm to 1 S/cm. Given the high aspect ratios and small diameters of carbon nanotubes, percolation thresholds are often reported below 1 wt% although nanotube dispersion and alignment strongly influence this value. Increases in thermal conductivity are modest (∼3 times) because the inter facial thermal re sis tance between nanotubes is considerable and the thermal conductivity of nanotubes is only 104 greater than the polymer, which forces the matrix to contribute more toward the composite thermal conductivity, as compared to the contrast in electrical conductivity, >1014. The nanotube network is also valuable for improving flame-retardant efficiency by producing a protective nanotube residue. In this ar ticle, we highlight published research results that elucidate fundamental structure–property relationships pertaining to electrical, thermal, and/or flammability properties in numerous nanotube-containing polymer composites, so that specific applications can be targeted for future commercial success.