A finite element (FE)-percolation model approach is developed to predict the strain-sensitive response of the three-dimensional (3D) representative volume element (RVE) of carbon nanotube (CNT)-elastomeric nanocomposite. In the simulation model, CNTs are modeled as solid, impenetrable cylinders inside a cubic insulating matrix. FE simulation is performed to evaluate the structural response of the RVE under applied strain. The FE model updates the locations of the CNTs in the deformed RVE. The paths are found using a suitable 3D resistance network associated with different percolation paths involved in the critical distance criterion. The percolation model utilizes the paths found to identify the electrical circuit for predicting tunneling conductivity. The simulating algorithm is used to study the influence of tunneling barrier height, nanotube volume fraction, and geometrical aspects. The lowest critical distance criterion is achieved for higher volume fractions and the most heightened sensitivity is obtained for lower CNT aspect ratios.