This invention relates generally to a method for producing composites of fullerene nanotubes and compositions thereof. In one embodiment, the present invention involves a method of producing a composite material that includes a matrix and a fullerene nanotube material embedded within said matrix. In another embodiment, a method of producing a composite material containing fullerene nanotube material is disclosed. This method includes the steps of preparing an assembly of a fibrous material; adding the fullerene nanotube material to the fibrous material; and adding a matrix material precursor to the fullerene nanotube material and the fibrous material.