The 0.5 wt.% multiwalled carbon nanotubes/water nanofluids (MWNFs) were produced by using a two‐step synthetic method with different types and concentrations of stabilizers. The static position method, centrifugal sedimentation method, zeta potential measurements, and rheological experiments were used to assess the stability of the MWNFs and to determine the optimal type and fixed MWCNTs‐stabilizer concentration of stabilizer. Finally, MWNFs with different concentrations of MWCNTs were produced using the optimal type and fixed concentration ratio of stabilizer, and their stability, thermal conductivity, and pH were measured to assess the feasibility of using them in heat transfer applications. MWNFs containing SDS and SDBS with MWCNTs‐stabilizer concentration ratio were 5 : 2 and 5 : 4, respectively, showed excellent stability when they were evaluated by static position, centrifugal sedimentation, zeta potential, and rheological experiments at the same time. The thermal conductivity of the MWNFs indicated that the most suitable dispersing MWNF contained SDBS. MWNFs with MWCNTs concentrations of 0.25, 0.5, and 1.0 wt.% were fabricated using an aqueous SDBS solution. In addition, the thermal conductivity of the MWNFs was found to have increased, and the thermal conductivity values were greater than that of water at 25°C by 3.20%, 8.46%, and 12.49%.