A new zinc-layered hydroxide-L-phenylalanate (ZLH-LP)-modified multiwalled carbon nanotube (MWCNT) was prepared as a new material of paste electrode for the detection of paracetamol (PCM) in 1.0 × 10−1 M phosphate buffer solution and at pH 7.5. The electrochemical characterization of the MWCNTs/ZLH-LP paste electrode was characterized by square wave voltammetry, electrochemical impedance spectroscopy, and cyclic voltammetry while the morphology properties of the MWCNTs, ZLH-LP, and MWCNTs/ZLH-LP were investigated using transmission electron microscopy and scanning electron microscopy. Under optimized conditions, the MWCNTs/ZLH-LP paste electrode demonstrated an excellent electrocatalytic activity towards oxidation of PCM in the linear responses’ ranges from 7.0 × 10−7 M to 1.0 × 10−4 M (correlation coefficient, 0.996) with the limit of detection obtained at 8.3 × 10−8 M. As a conclusion, the MWCNTs/ZLH-LP paste electrode revealed good repeatability, reproducibility, and stability, and was found to be applicable for use in pharmaceutical tablet samples.