Thermotropic liquid crystal polymer (TLCP) nanocomposites reinforced with a multi-wall carbon nanotube (CNT) were prepared by melt compounding in a twin-screw extruder. The incorporation of CNT has a minor effect on the thermal transition temperatures of TLCP/CNT nanocomposites. The enhancement of thermal stability of TLCP/CNT nanocomposites was obtained by the physical barrier effect of the dispersed CNT in the polymer nanocomposites. There was significant dependence of the rheological and mechanical properties of TLCP/CNT nanocomposites on the CNT contents. The TLCP/CNT nanocomposites exhibited more distinct shear thinning behavior relative to pure TLCP over the whole frequency range, and the non-terminal behavior was observed in the TLCP/CNT nanocomposites attributed to the nanotube-polymer interaction. In addition, the improvement in the mechanical properties of TLCP/CNT nanocomposites can be explained by the reinforcement effect of CNT with high aspect ratio as well as the uniform dispersion of CNT in the TLCP matrix.