This paper is concerned with investigation of the structure and microwave properties of epoxy resin composites with graphite nanoplatelets (GNPs) decorated by FeNi nanoparticles prepared by the salt impregnation. It was confirmed by SEM and XRD that the method gives nanopowder where the metal componentFe20Ni80 is in the form of nanoparticles (20–40 nm in diameter) which are distributed over the surface and edges of the GNPs. The graphite phase in the investigated nanopowder is predominant, and Fe20Ni80 component mainly contains fcc FeNi3. Measurements of magnetic properties confirmed that Fe20Ni80 are small, randomly oriented assembly of spherical (or close to spherical) particles on the GNPs surface. The saturation magnetization of GNP-Fe20Ni80 particles is 25 emu/g and it weakly depends on temperature. Electrical resistivity measurements have shown that decoration of GNPs leads to essential increase of conductivities well as improvements EMR absorption properties in high frequency range (26–60 GHz) in (GNP-Fe20Ni80)/with in compression GNP/epoxy under the same volume content of 1.45 vol.%(GNP-Fe20Ni80)/L285 composites demonstrated superior broadband absorption properties with microwave absorption efficiency higher than 97% in the whole investigated frequency region.The effective absorption bandwidths are as high as 12.2 GHz were observed at the frequency range 41.9 and 53.2 GHz and 13.3 GHz at the frequency range 51.1 GHz–64.4 for this composite. It is assumed that decoration of GNPs surface by nanoscale Fe20Ni80 particles leads to a formation of the multiple dielectric and magnetic loss mechanisms, such as interfacial polarization, dipole polarization, space-charge polarization, eddy current loss, Debye dipolar relaxation, natural resonance and exchange resonance, which improve the microwave absorption properties of the investigated composites.