Polyurethane (PU) nanocomposites were fabricated using renewable castor oil and 4,4′-diphenylmethane diisocyanate. The modified Multiwalled Carbon Nanotubes (MWCNTs), as well as Clay (Closite 30B), was used as fillers for hybridizing the nanocomposites. The clay percentage was varied from (1–5) wt % and MWCNTs was varied from (0.05–0.2) wt % for the PU nanocomposite. The prepared nanocomposites were characterized using Fourier transform infrared (FTIR) spectroscopy, transmission electron microscopy (TEM), wide angle X-ray diffraction (WAXD), and field emission scanning electron microscopy (FESEM). FTIR analysis confirmed the formation of polyurethane linkages as well as the presence of peaks corresponding to clay and MWCNTs, which indicates the good dispersion of hybridizing filler content. Also, the results obtained further confirmed the presence of detangled nanotubes in TEM images for nanocomposites. The addition of filler content will lead to enhancement in the properties of polyurethane nanocomposites.