Silicone elastomer and multi-walled carbon nanotubes (MWCNTs) composites, applicable as actuators and controllable dampers, were studied. Dynamic mechanical analysis (DMA) and vibrating sample magnetometry (VSM) were used to investigate the mechanical and magnetic properties of silicone elastomers and MWCNTs composites. Also, measurement of their dielectric property was conducted. The addition of MWCNT was able to tailor the damping and dielectric properties of the silicone elastomer. In this study, a 0.7 wt% of MWCNT composite demonstrated an attractive condition for the damping and the dielectric property. Exceedingly, the modulus increased with the application of a magnetic field. The good filler effect with the small addition of the MWCNTs content is caused by their unique structure, catalytic effect, and magnetic property.