Superior conductive fillers reinforced polymer composites are ideal alternatives to graphitic and metallic materials in proton exchange membrane fuel cells (PEMFCs) for high thermal and electrical conductive bipolar plates. Polymer composites are known to be adversely influenced from high contact resistance thus to minimize such resistance, highly graphite‐/graphene‐filled polybenzoxazine (PBA) composites are developed in this work. A very low melt viscosity of benzoxazine resin with graphite loading as high as 83 wt % is used for the samples. With an addition of graphene platelet, thermal and electrical conductivities of the specimens having 75.5 wt % of graphite in a combination of 7.5 wt % of graphene are significantly enhanced to 14.5 W mK−1 and 323 S cm−1, respectively. Properties of highly graphite‐/graphene‐filled PBA composites exhibit most values exceed those requirements by the U.S. Department of Energy for PEMFCs applications. © 2018 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2019, 136, 47183.