Percolative composites with high permittivity and low loss have drawn enormous attention in the research community, exhibiting wide range of applications in sensors, capacitors, field-effect transistors, antennas, etc. In this work, flexible and biocompatible polystyrene/multi-walled carbon nanotubes (PS/MWCNTs) films with high permittivity and low loss near percolation threshold were achieved by solution mixing assisted with non-solvent induced phase separation (NIPS) strategy and followed by the hot press method. Cytotoxicity experiments proved that the experimental process and products are green, environmentally friendly and biocompatible. The microstructure and dielectric properties were investigated. When MWCNTs content reached 15 wt%, high permittivity and low loss were simultaneously realized. Combining the flexibility and non-toxicity, the PS/MWCNTs films with high permittivity and low loss exhibit great potentials in wearable devices, skin sensors and flexible electronics.