In recent years, low-cost carbons derived from recycled materials have been gaining attention for their potentials as filler in composites and in other applications. The electrical and mechanical properties of polymer composites can be tuned using different percentages and different kind of fillers: either low-cost (e.g., carbon black), ecofriendly (e.g., biochar), or sophisticated (e.g., carbon nanotubes). In this work, the mechanical and electrical behavior of composites with biochar and multiwall carbon nanotubes dispersed in epoxy resin are compared. Superior mechanical properties (ultimate tensile strength, strain at break) were noticed at low heat-treated biochar (concentrations 2–4 wt %). Furthermore, dielectric properties in the microwave range comparable to low carbon nanotubes loadings can be achieved by employing larger but manageable amounts of biochar (20 wt %), rending the production of composites for structural and functional application cost-effective.