The transmutation target of nuclear waste material has been fabrication by a powder metallurgy method by using Alumina as the matrix and CNTs as reinforcement. The effect of different nanotube contents on the fracture toughness and the bending strength was investigation. The results showed the fracture toughness and the bending strength of composites increased with increasing CNTs mass fraction when the content of CNTs was less than 1.5%. However, when the contents of CNTs greater than 1.5%, the fracture toughness and the bending strength of composites decreased as the content of CNTs increased. Possible mechanisms are discussed in detail in the paper.