The relationship between morphology and temperature-resistivity effect of injection-molded isotactic polypropylene/high density polyethylene/carbon black (iPP/HDPE/CB) composites with special orientation structure is investigated in detail. The morphological variation induced by melting, disorientation, crystallization and movement of CB particles is responsible for the change of electrical conductivity of the iPP/HDPE/CB composites during the heating and cooling. The room temperature volume resistivity of the composites reduces markedly after a round of heating and cooling because the network is improved through morphological changes and movement of particles during annealing. The continuity of HDPE/CB phase and the effective concentration of the CB particles in HDPE simultaneously determine the temperature-resistivity effects of the composites. Samples with iPP/HDPE mass ratio of 50/50 achieve a better balance of the two factors, which results in more stable conductive properties varying with temperature.