In this paper, either graphite (Gr) or carbon nanotubes (CNTs), or both of them were incorporated into carbon fabric reinforced phenolic (CFRP) composites, preparing by a dip-coating and heat molding process, the tribological properties of the resulting composites were investigated using a block-on-ring arrangement. The worn surfaces were observed by scanning electron microscope to understand the mechanism. Experimental results showed that the optimal Gr was more beneficial than CNTs in improving the tribological properties of the CFRP composites when they were singly incorporated. It is well worth noting that the friction and wear behavior of the CNTs-filled CFRP composites were improved further when Gr was added, indicating that there is a synergistic effect between them. Tribological tests under different sliding conditions revealed that the Gr and CNTs-filled CFRP composites seemed to be the most suitable for tribological applications under higher sliding speed and load, and oil lubrication.