The properties of an oligomeric cyanate ester polymer were modified by the addition of 0.01–3 wt.‐% multi‐walled carbon nanotube (MWNT) containing particles. The dynamic mechanical behavior and thermal properties of the cyanate ester/MWNT nanocomposites were evaluated. The storage modulus, G′, of the nanocomposite with 1 wt.‐% MWNT particles was nearly 60 and 600% higher than the neat polymer at 100 and 200 °C, respectively. The glass transition temperature of the nanocomposite was also raised by 30 °C and its thermal stability in air and nitrogen was increased by 58 and 25 °C, respectively. The property improvements are attributed to reinforcement of the cyanate ester as a result of good nanotube dispersion and effective polymer‐MWNT interaction.