In this article, the electrical conductivity of composites with different ratios of carbon fiber (CF) content to carbon black (CB) content was studied. The CF content is the main factor to determine the resistivity of the composites filled with CF and CB. The conduction mechanism for this kind of composite is discussed. From comparison of the resistivity of the composites filled with CF and CB with that of the composites filled with CF only, it is shown that using CB as a substitute for part of the CF in CF-filled composites can decrease the production cost, but hardly change the conductivity. The optimum substitution amount is 5% when CF content is beyond 10% in the composites.