Conducting　poly(3-acetylpyrrole)　(PAPy)/multi-wall　carbon　nanotubes　(MWNTs)　composites　were　synthesized　by　the　in　situ　chemical　polymerization　of　3-acetylpyrrole　(APy)　on　MWNTs.　The　structure　and　properties　of　the　resulting　PAPy-MWNTs　composites　was　studied　by　FT-IR,　XRD,　FE-SEM,　FE-TEM　and　TGA.　FT-IR　results　indicated　that　no　chemical　reaction　occurred　between　the　PAPy　and　MWNTs,　and　only　the　MWNTs　served　as　a　template　for　APy　polymerization.　FE-SEM　and　TEM　studies　suggested　that　PAPy　was　only　coated　on　the　surface　of　carbon　nanotubes　and　the　thickness　of　the　PAPy　coating　on　each　nanotube　depended　on　the　feed　ratio　of　APy　to　MWNTs.　TGA　indicated　that　the　MWNTs　can　improve　the　thermal　stability　of　PAPy/MWNTs　composites.　In　addition,　the　standard　four　probe　method　was　used　to　measure　the　electrical　conductivity　of　the　samples　at　room　temperature,　and　the　results　exhibited　the　electrical　conductivity　of　PAPy/MWNTs　composites　can　near　that　of　MWNTs　by　controlling　the　mass　ratio　between　APy　and　MWNTs.