With rapid advances in electronic and communication technology, electromagnetic interference and other problems are becoming increasingly prominent. Thus, electromagnetic interference shielding materials have recently garnered extensive attention. In this study, a multi‐walled carbon nanotube/polyurethane/non‐woven electromagnetic shielding material (CPNW) is developed using impregnation and nonsolvent‐induced‐phase separation techniques. Utilizing a three‐dimensional nonwoven network as the substrate, the “nonwoven fabric‐polyurethane‐carbon nanotube” composite is impregnated and cured via the non‐solvent‐induced‐phase separation method, resulting in a distinctive porous dual‐network structure that ensures robust interfacial bonding between carbon nanotubes, nonwoven fabric, and polyurethane. At a carbon nanotube content of 10% (based on the mass of nonwoven fabric), CPNW exhibited an electromagnetic interference shielding effectiveness of 28.8 dB, a thermal conductivity of 0.127 W m−1 K−1, and a burning time of 1 min and 15 s, demonstrating outstanding electromagnetic shielding, flame retardant, and infrared stealth capabilities. Overall, this study laid a theoretical groundwork for the development of multifunctional non‐woven electromagnetic shielding materials with widespread application potential in aerospace, military, artificial intelligence, and wearable electronics.