In this project, firstly, polyaniline-based polyester–cotton fabric was prepared by in situ polymerization using polyester–cotton fabric as the base fabric, aniline as the monomer, ammonium persulfate as the oxidizer, and camphor sulfonic acid as the dopant. Secondly, cobalt ferrite/carbon fiber powder-coated polyaniline-based polyester–cotton fabric was prepared by the textile coating process using polyaniline-based polyester–cotton fabric as the base fabric, PU2540-type polyurethane as the adhesive, and cobalt ferrite and carbon fiber powder as functional particles. Finally, the effect of the cobalt ferrite and carbon fiber powder doping ratio on the shielding effectiveness, reflection loss, dielectric constant real part, imaginary part, and loss angle tangent of cobalt ferrite/carbon fiber powder-coated polyaniline-based polyester–cotton fabric was studied by using the controlled variable method with emphasis on the cobalt ferrite/carbon fiber powder doping ratio. The results show that in the frequency range of 0.01–3.0 GHz, when the doping ratio of cobalt ferrite to carbon fiber powder is 0:3, the reflection loss of cobalt ferrite/carbon fiber powder-coated polyaniline-based polyester–cotton fabric reaches the minimum value at 1.49 GHz, the minimum reflection loss is –21.4 dB, and the effective absorption band is 1.25–1.94 GHz. In the test band, the shielding efficiency, reflection loss, the real part and imaginary part of the dielectric constant, and the loss angle tangent of the carbon fiber powder-coated polyaniline-based polyester–cotton fabric are larger than those of cobalt ferrite-coated polyaniline-based polyester–cotton fabric. The smaller the doping ratio of cobalt ferrite to carbon fiber powder, the larger value of the shielding efficiency, reflection loss, the real part and imaginary part of the dielectric constant, and loss angle tangent of the cobalt ferrite/carbon fiber powder-coated polyaniline-based polyester–cotton fabric.