Thermal conductivity and mechanical properties such as tensile strength, elongation at break, and modulus of elasticity of aluminum powder-filled high-density polyethylene composites are investigated experimentally in the range of filler content 0-33% by volume for thermal conductivity and 0-50% by volume for mechanical properties. Experimental results from thermal conductivity measurements show a region of low particle content, 0-12% by volume, where the particles are distributed homogeneously in the polymer matrix and are not interacting with each other; in this region most of the thermal conductivity models for two-phase systems are applicable. At higher particle content, the filler tends to form agglomerates and conductive chains resulting in a rapid increase in thermal conductivity. The model developed by Agari and Uno estimates the thermal conductivity in this region. Tensile strength and elongation at break decreased with increasing aluminum particles content, which is attributed to the introduction of discontinuities in the structure. Modulus of elasticity increased up to around 12% volume content of aluminum particles. Einstein's equation, which assumes perfect adhesion between the filler particles and the matrix, explains the experimental results in this region quite well. For particle content higher than 30%, a decrease in the modulus of elasticity is observed which may be attributed to the formation of cavities around filler particles during stretching in tensile tests.