Multifunctional nanocomposites are increasingly needed for applications requiring prescribed sets of physical and chemical properties. Polytetrafluoroethylene (PTFE) is a popular solid lubricant due to its low friction coefficient, high chemical inertness, high thermal range and biocompatibility, but its use is limited by high rates of wear. Low loadings of nanoparticle fillers have reduced PTFE wear by 3-4 orders of magnitude, but these materials lack the mechanical, electrical or thermal properties needed for high performance applications. In this study, single-walled carbon nanotubes (SWCNT) are investigated as a route to improve wear resistance, toughness and electrical conductivity of PTFE without sacrificing low friction, high temperature capability or chemical inertness. Tribological, tensile and surface electrical measurements were made for 0, 2, 5, 10 and 15 wt.% SWCNT filled PTFE nanocomposites. A dramatic reduction in electrical resistance reflected networking (percolation) of the nanotubes at 2 wt.%. All of the nanocomposites had significantly improved electrical, mechanical and wear performance. Above 2 wt.%, electrical conductivity was reduced by more than six orders of magnitude. At 2 wt.%, ultimate engineering stress was improved by approximately 50%, true stress increased by 200%, engineering strain increased by two orders of magnitude (∼10,000%). At 5 wt.%, wear resistance improved by more than 20 times and friction coefficient increased by ∼50%.