In this study, the enhancement of the thermal conductivity of water in the presence of multi-walled carbon nanotubes, MWCNT, was investigated. Sodium Dodecyl Sulfate, SDS, and Polyvinylpyrrolidone, PVP, were employed as the dispersant. SDS or PVP was added in pure water. And then, MWCNT of 0.0005, 0.001, 0.002, 0.003, 0.004, 0.005, 0.01, and 0.02 vol% was 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 this was better than that of SDS 100 wt%, also, the viscosity of nano fluid added PVP rapidly increased until 0.02 vol%.