Carbon nanotubes/aluminum (CNT/Al) composites were prepared by magnetic stirring in combination with spark plasma sintering. Their microstructures were characterized by scanning electron microscopy and transmission electron microscopy. Experiments were performed to investigate the mechanical properties, friction and wear characteristics, electric conductivity and thermal conductivity of CNT-free and CNT-added specimens. It is found that when the mass fraction of CNTs is 1%, CNTs can uniformly disperse within the Al matrix and interfacial bonding at the CNT/Al interface is strong. In comparison with the unreinforced Al specimen, the tensile strength and hardness of the CNT/Al composites increase by 29.4% and 15.8%, respectively. When the CNT/Al composites achieve the optimal mechanical enhancement and antifriction effect, their electrical conductivity only decreases by 8.0% compared with pure Al. The thermal conductivity of pure Al could be enhanced with the incorporation of CNTs, but this enhancement effect is not obvious.