In this study, the characteristics of multi-walled carbon nanotubes added nanofluid were investigated. Sodium Dodecyl Sulfate, SDS, and Polyvinylpyrrolidone, PVP, were employed as the dispersant. SDS or PVP was added in pure water. And then, 0.0005, 0.001, 0.002, 0.003. 0.004, 0.005,0.01, and 0.02 vol% of CM-95 and CM-100 were dispersed respectively. The thermal conductivity and the viscosity were measured with a transient hot-wire instrument built for this study and the DV II+ Pro viscometer. The results showed that PVP had good thermal conductivity at 300 wt% and the thermal conductivity of CM-100 was better than that of CM-95. However, the viscosity of CM 100 was higher than that of CM 95.