Traditional carbon fiber reinforced plastics (CFRPs) have been reported to exhibit lower electrical conductivity in the through-thickness direction, and have since paved the path for developing new resin systems to improve the through-thickness electrical conductivity and functionality of CFRP laminates. This study designs and investigates a novel Polyaniline (PANI)/Phenol resin, which possesses high electrical conductivity and mechanical strength. The CFRP manufactured by this PANI/Phenol resin with an addition of up to (~23.30%) phenol resulted in 0.6 S/cm through-thickness conductivity and demonstrated flexural strength and modulus values of 477 MPa and 59.2 GPa, respectively. We further evaluate the effectiveness of lightning strike protection of PANI/Phenol-based conductive CFRP laminates with a simulated lightning strike test. In essence, this research reports on PANI/Phenol-based CFRP's effectiveness as a material for lightning suppression without applying traditional metal-based lightning strike protection (LSP) systems.