The mechanical and tribological properties of epoxy composites modified with microencapsulated wax lubricant and multi-walled carbon nanotubes (MWCNTs) were investigated. The increased soft microcapsules embedded in the epoxy matrices were responsible for the reduced micro-hardness and Young’s modulus of the epoxy composites. It was found that the friction of the epoxy composites greatly decreased with increased microcapsule content due to combined lubricating effects of the both wax lubricant and MWCNTs. As a result, the wear of the epoxy composites apparently decreased with increased microcapsule content.