Waste wood-plastic composite (WPC) was used in this work as a raw material to produce recycled WPCs reinforced with carbon fiber and nanoclay. To evaluate the synergistic effects of carbon fiber and nanoclay, various performances (i.e., microstrucural, mechanical, thermal, water absorption, and electrical properties) were investigated. Scanning electron micrographs and X-ray diffraction analysis of the fillers (carbon fiber and nanoclay) present in the recycled WPCs showed that the nanoclays were properly intercalated when filled with carbon fibers. According to mechanical property analysis, hybrid incorporation of carbon fibers and nanoclays improved impact strength, tensile strength, and flexural strength. However, further incorporation of nanoclays reduced the impact strength and did not improve the tensile modulus or the flexural modulus. The carbon fibers present in the recycled WPCs improved the electrical conductivity of the composites, despite the various fillers that interfered with their electrical conduction. In addition, carbon fibers and nanoclays were mixed into the recycled WPCs to improve the thermal stability of the composites. Finally, the presence of nanoclays in recycled WPCs led to increased water uptake of the composites.