Multiwalled nanotubes (MWNTs) composites with electrodeposited polypyrrole (PPy) have been proposed as electrode materials for supercapacitors. The total capacitance of the nanocomposite combines a pure electrostatic attraction of ions and the electrochemical redox reactions of the -conjugated system of PPy. A synergy effect has been found between the two components of the nanocomposite. The mesoporous network of the nanotubular material supplies very good transport conditions for ions, and PPy enhances its conducting properties. A high ability of charge accumulation in such volumetric capacitor was obtained with capacitance values of 165 F/g of material.