Carbon fiber paper was coated with multiple layers coating composed by conductive and magnetic fillers. The electromagnetic shielding and conductive properties of the coating were investigated. The effluencing factors such as the ratio of conductive and magnetic fillers, the composition of magnetic fillers, the contrast of coating method, the structure of shielding layer were assessed according with effectiveness. The results showed the best component for the coating layer was: conductive substrate, conductive coating layer and magnetic coating layer sequently. The compound of magnetic fillers with differenet electromagnetic interaction mechanism would produce a complementary magnetic loss, and display a high absorption in broader frequency band. The shielding effectiveness of multi-layer coated carbon fiber paper at 1.5 GHz was shown up to 45 dB.