Electromagnetic radiation can cause serious harm to the human body, such as the rise in body temperature and the decrease in immune function. In this study, the carbon nanotubes (CNTs)/Fe3O4 nonwovens were used to prepare wearable flexible absorbing materials. First, the single-layer absorbing structures were prepared by hot rolling, dipping, and film fabrication, respectively. Then, the single-layer structures were combined to form the multi-layer absorbing structures. By testing and analyzing the absorbing performance of various structures in the X-band frequency range, the optimum combination scheme was found, together with a good reflection loss value of CNTs/Fe3O4 nonwoven material. The experiment results displayed that the single-layer hot-rolled nonwovens modified by CNTs have the best wave absorbing performance. Its minimum reflection loss of −18.59 dB occurred at 10.55 GHz, and the efficient frequency occurred at 8.86–12.40 GHz. The modified film can significantly improve the absorbing performance of multi-layer structures. In addition, the absorbing performance was closely related to both the place where the absorbing film was introduced and the type of absorbing fillers. When the film-forming CNTs (FC) film was located at the bottom layer of the multi-layer structure, the hot rolled CNTs hot rolled mixed reagent film forming CNTs (HC-HM-FC) structure constructed exhibited the best absorbing effects. Its minimum reflection loss can reach −33 dB, and the effective absorbing frequency range covered half of the X-band.