In this article the development and characterization of composites made from metallocene based ethylene-octene copolymer (EOC) with 38% octene content, non-modified or modified multi walled carbon nanotubes (MWCNTs), covalently functionalised with long chain hexadecyl moiety imidazolium ionic liquid (IL-f-MWCNTs), is presented. The procedure of MWCNTs functionalization is discussed. In order to obtain a good dispersion of the filler, composites with MWCNTs and IL-f-MWCNTs in the concentration range of 0.5-12 wt.% were made by ultrasonication / thermoplastic mixing method. The results indicated improvement in mechanical properties with increase of the filler content. The methodology of the development of EOC matrix nanocomposites with IL-f-MWCNTs showed advantages of the conductive material creation with high mechanical stiffness compared to direct melt mixing of EOC with non-modified MWCNTs. A notable enhancement of thermal stability was observed in case of both pristine MWCNTs and IL-f-MWCNTs containing EOC nanocomposites, which was attributed to scavenging action of the nanofiller. Modification of EOC with IL-f-MWCNTs showed somewhat increased efficiency in enhancing overall thermal stability of the composites because of better dispersion of the nanofiller due to compatibilizing effect of IL modifier.