Thermoelectric properties of n-type bismuth telluride and its nanocomposite reinforced with different concentration of multi wall carbon nanotubes (MWCNTs) are reported. Nanocomposites of bismuth telluride with MWCNTs were synthesized by using high energy ball milling followed by spark plasma sintering (SPS). MWCNTs reinforced nanocomposites of bismuth telluride resulted improvement in its figure of merit ZT from 0.76 (for Bi2Te3) to 0.85 (for Bi2Te3 + 2%MWCNTs) at 473K temperature. Thermoelectric parameters of nanocomposites of Bi2Te3 were characterized by Laser Flash Technique. The improvements found in ZT value may be due to decrease in thermal conductivity of the nanocomposites. Concentration of MWCNTs in bismuth telluride leads to dampening the phonon propagation with addition to the interface scattering of phonons from phase boundaries as well as grain boundaries which leads to decrease in thermal conductivity.