Graphene aerogels (GAs) have attracted extensive interest in diverse fields, owing to their ultrahigh surface area, low density and decent electrical conductivity. However, the undesirable thermal conductivity of GAs may limit their applications in energy storage devices. Here, we report a facile hydrothermal method to modulate both the electrical and thermal properties of GAs by including bulk molybdenum disulfide (MoS₂). It was found that MoS₂ can help to reduce the size of graphene sheets and improve their dispersion, leading to the uniform porous micro-structure of GAs. The electrical measurement showed that the electrical conductivity of GAs could be decreased by 87% by adding 0.132 vol % of MoS₂. On the contrary, the thermal conductivity of GAs could be increased by ~51% by including 0.2 vol % of MoS₂. The quantitative investigation demonstrated that the effective medium theories (EMTs) could be applied to predict the thermal conductivity of composite GAs. Our findings indicated that the electrical and thermal properties of GAs can be tuned for the applications in various fields.