Synchronous enhancement of strength and ductility is a persistent challenge in the development and application of carbon nanotube (CNT)-reinforced aluminum matrix composites. This study proposed a low-temperature aging strategy to induce the nanoscale precipitates and evade the strength and ductility trade-off dilemma. The composites under various aging conditions were characterized in detail at the macro, micro, and nano scales. The precipitation behavior and strengthening mechanism were investigated systematically. Results indicated that when aged at 100 °C the composite exhibited a better mechanical performance. Compared to as-extruded composites, the yield and ultimate tensile strength of CNT/2024Al composites increased by 82.7% and 64.8%, respectively, whereas the elongation decreased by only 1.1%. The results of microstructure and theoretical estimation suggested the dense nanoscale GP zones were primarily responsible for achieving the strength-ductility synergy. This present study on tailoring precipitate evolution could provide fundamental insights and references to enhance the mechanical properties of aluminum matrix composites.