Polyaniline functionalized with sulfonate groups (SPANI) shows excellent solubility in water. Single-walled carbon nanotubes functionalized with carboxylic groups (f-SWCNTs) and then hybridized with freshly prepared zinc sulphide (ZnS) nanocrystals have been found to be good luminescent material with tuned emission properties. Nanocomposite of sulfonated polyaniline with embedded SWCNT/ZnS nanohybrid fibers has been prepared by a simple solution mixing process and characterized by using high resolution transmission electron microscopy (HRTEM), X-ray diffractometry, Raman spectroscopy, FTIR spectroscopy, and thermogravimetric analysis (TGA). The study of optical properties by UV-vis absorption and photoluminescence spectroscopy reveals that the composite is a luminescent material of enhanced emission intensity in the visible region of the spectrum.