The capability of poly(ethylene-co-methacrylic acid) (E/MAA) to self-heal is well known, however, its mechanical properties are weak. In this study, composites with single and double layers of unidirectional (UD) carbon fibers were prepared by compression molding. Even a low mass fraction of fibers substantially improved the polymer. The flexural and tensile properties were tested at 0°, 45° and 90° fibers direction and compared to those of the matrix. The mechanical properties in the 0° direction proved superior. Flexural properties depended on the reinforcement distance from the stress neutral plane. The tensile modulus in the 0° direction was 13 times greater despite only a 2.5% mass fraction of fibers. However, both tensile modulus and strength were observed to degrade in the 90° direction. Dynamic mechanical analysis showed the dependence of both structure and properties on the thermal history of E/MAA. Tensile tests after ballistic impact showed that the modulus of the self-healed E/MAA was not affected, yet the strength, yield point, and particularly the elongation at break were reduced. A composite with higher fiber content could be prepared by mixing milled E/MAA particles in fibers prior to compression.