The effect of different dispersion states on the rheological and AC conductivity properties of carbon nanofibre/epoxy suspensions was investigated. Both rheological and electrical properties revealed to be good indicators of the fillers’ dispersion state, as confirmed by optical microscopy. It was shown that imposing a low shear deformation to poorly dispersed suspensions leads to agglomerate rearrangement resulting in a worse dispersion quality and, consequently, lower electrical conductivity. On the other hand, the imposition of a high shear deformation improves the original dispersion, resulting in better electrical conductivity. Rheological observations confirm the trends observed.