A bipolar plate is a major component of a fuel cell stack, which occupies 50~60% of the total weight and over 50% of the total cost of a typical fuel cell stack. In this study, a composite bipolar plate is designed and fabricated to develop a compact and light-weight direct methanol fuel cell (DMFC) stack for a small-scale Unmanned Aerial Vehicle (UAV) application. The composite bipolar plates for DMFCs are prepared by a compression molding method using resole type phenol resin as a binder and natural graphite and carbon black as a conductor filler and tested in terms of electrical conductivity, mechanical strength and hydrogen permeability. The flexural strength of 63 MPa and the in-plane electrical conductivities of 191 S $cm^{-1}$ are achieved under the optimum bipolar plate composition of phenol : 18%; natural graphite : 82%; carbon black : 3%, indicating that the composite bipolar plates exhibit sufficient mechanical strength, electrical conductivity and hydrogen permeability to be applied in a DMFC stack. A DMFC with the composite bipolar plate is tested and shows a similar cell performance with a conventional DMFC with graphite-based bipolar plate.