Thermoplastic elastomers are known as the polymeric materials which exhibit the elastic and mechanical properties of cross-linked rubbers as well as the melt processability of thermoplastics. In this study nanocomposites based on dynamically vulcanized thermoplastic elastomer of (polypropylene (PP)/styrene butadiene rubber (SBR) containing different amounts of multiwall carbon nanotube (MWCNT)) were prepared by melt mixing method. The occurrence of the dynamic vulcanization was confirmed by the evaluating the mixing torque and morphology of the prepared nanocomposites was characterized by scanning electron microscopy (SEM). The effect of using different amounts of MWCNT on electrical properties of the prepared nanocomposites was investigated. The obtained results showed that by increasing the amount of MWCNT, the electrical conductivity of the nanocomposites increased slowly. This was attributed to the agglomeration of rubber particles and stranding of nano particles between them which prevented the formation of enough MWCNT-MWCNT network. Keywords: Thermoplastic Elastomer, Polypropylene, Styrene Butadiene Rubber, Carbon nanotube, Nanocomposites