The production of multipurpose sustainable fillers is a matter of great interest, and biochar can play a pivotal role. Biochar is a biomass-derived carbon source that can act as a versatile platform for the engineering of fillers as neat or functionalized materials. In this work, we investigate the utilization of 800 °C annealed Miscanthus-derived biochar as a filler for the production of epoxy composites with promising mechanical and electrical properties. We also used it in the production of an iron-rich hybrid filler in order to fine-tune the surface and bulk properties. Our main findings reveal that hybrid composites containing 20 wt.% biochar exhibit a 27% increase in Young’s modulus (YM), reaching 1.4 ± 0.1 GPa, while the ultimate tensile strength (UTS) peaks at 30.3 ± 1.8 Mpa with 10 wt.% filler, a 27% improvement over pure epoxy. However, higher filler loadings (20 wt.%) result in decreased UTS and maximum elongation. The optimal toughness of 0.58 ± 0.14 MJ/m³ is observed at 5 wt.% filler content. For organic composites, YM sees a notable increase of 90%, reaching 2.1 ± 0.1 Gpa at 20 wt.%, and UTS improves by 32% with the same filler content. Flexural tests indicate an enhanced elastic modulus but reduced maximum elongation as filler content rises. Electromagnetic evaluations show that hybrid fillers maintain a primarily dielectric behavior with a negligible impact on permittivity, while biochar–epoxy composites exhibit increased conductivity at higher filler loadings, suitable for high-frequency applications. In light of these results, biochar-based fillers demonstrate significant potential for enhancing the mechanical and electrical properties of epoxy composites.