A poly(o-toluidine) (POT)/2,5-dimercapto-1,3,4-thiadiazole (DMcT) composite was prepared. When POT and DMcT are mixed in a proper solvent, POT in a medium-oxidation state is reduced, and DMcT in turn is oxidized to its soluble dimer when the molar ratio of DMcT to POT is higher than 0.5. Therefore, the composite was soluble in organic solvents such as tetrahydrofuran (THF), dimethylformamide (DMF), and N-methyl-2-pyrrolidone (NMP) and exhibited very high electroactivity, two orders of magnitude higher than that of pure POT and three orders of magnitude higher than that of pure DMcT. Molecular-level contact between POT and DMcT is the reason for the improved catalytic effect of POT on DMcT, compared to that of polyaniline on DMcT.