Polystyrene/multi-walled carbon nanotube (PS/MWCNT) composites were prepared by the use of latex technology. The monodisperse PS latex was synthesized by an emulsifier-free emulsion polymerization from styrene/potassium persulfate/water system in the presence of ethanol. The MWCNTs were first treated with acid mixture to eliminate impurities, dispersed in deionized water driven by ultrasonicator, and then mixed with the PS latex. From these mixtures, PS/MWCNT composites were prepared by freeze-drying and subsequent compression molding. In the small-amplitude oscillatory shear experiments, both complex viscosity and storage modulus increased with increasing MWCNT content. A pronounced effect of MWCNT content was observed, resulting in larger storage modulus and stronger yield behavior at low frequencies when compared to unmodified PS. It showed a transition from viscous to elastic behavior with increasing MWCNT content. Over the MWCNT content of 3 wt%, the storage modulus was higher than the loss modulus across all frequencies.