A new, easy-to-handle, and inexpensive bismuth-carbon nanotube composite modified carbon paste electrode or Bi-CNT/CPE was developed for the simultaneous determination of cadmium(II) and lead(II) ions in an acetate buffer solution (pH 4.5) by square wave anodic stripping voltammetry. Synthesized through polyol process, Bi-CNT composite served as a source of ready-to-use bismuth and also held unique chemical and physical properties of CNTs. Compared to the previously fabricated Bi-CNT modified glassy carbon electrode (Bi-CNT/GCE), Bi-CNT/CPE exhibited superior electrochemical performance, leading to further optimization of this novel Bi-CNT/CPE for metal-ion detection.