With the widespread utilization of cement-based composites in water conservancy projects, a paramount focus lies in exploring their durability to ensure the safety of high concrete dams in alpine terrains. This research embarked on an exploration by incorporating carbon fiber and multi-walled carbon nanotube double conductive phase fillers into the cement matrix, investigating their impact from three perspectives, namely, electrical conductivity, mechanical property and frost resistance. Simultaneously, in a sustainable approach of harnessing waste resources, discarded rubber was integrated into the experimental analysis to evaluate its contributions to the mechanical property and frost resistance of the composite. The experimental results showed that the resistivity of the cement-based composite was most significantly changed when the dosage of carbon fiber and multi-walled carbon nanotubes was 0.25%, whereas it reached the lowest when the dosage was 0.3%. Meanwhile, the effect of different applied electric fields on the resistivity was negligible. When the dosage of carbon fiber and multi-walled carbon nanotubes was 0.3% and that of the rubber was 30%, the composite material had the best frost resistance, and the mechanical properties also met the requirements of engineering applications, with flexural and compressive strengths exceeding 7 MPa and 30 MPa, respectively. These findings usher in innovative technical avenues for enhancing the performance of expansive concrete structures in alpine regions.