The aim of this work was to study the effect of different methods of multi-walled carbon nanotubes (MWCNTs) dispersion, and their influence on the microstructure and properties of aluminium alloy matrix composites produced using the powder metallurgy techniques, such as powder milling/mixing and hot extrusion. The main problem in the manufacturing of nanocomposites is the homogeneous distribution of MWCNTs in the metal matrix. To achieve their proper distribution a high-energy and low-energy mechanical milling, using a planetary ball mill, and mixing, using a turbulent mixer, were applied. Studies have shown that composite materials prepared using milling and extrusion have a much better dispersion of the reinforcing phase, which leads to better mechanical properties of the obtained rods. The low-energy mechanical mixing and mixing using the turbulent mixer neither change the powder morphology nor lead to adequate dispersion of the carbon nanotubes, which directly affects the resulting properties.