Polymer nanocomposites with proper reinforcement can simultaneously enhance both the UV-shielding and optical properties. Such composite materials are being investigated for many commercial applications, including automotive, window screens etc. However, the inherent challenge is maintaining transparency while using reinforcement to get better optical properties and UV resistance. In this study, Multiwall Carbon Nanotubes (MWCNTs) were reinforced for a range of content (0.5, 1.0, 1.5 and 2.0 wt%) in Polyvinyl Butyral (PVB) matrix to synthesize nanocomposite films for UV-shielding purposes. UV-shielding properties are enhanced as compared to PVB for all compositions. We were adding 0.5 wt% MWCNTs to PVB effectively improved UV wavelength blocking and slightly decreased visible light transparency. UV studies were performed in the 190–1100 nm wavelength range and the values of the absorption edge, direct and indirect bandgap energies and Urbach energy were evaluated. When 0.5 wt% MWCNTs were reinforced into the PVB, the direct and indirect bandgaps changed significantly from 4.50 to 4.91 eV–3.01 eV and 4.06 eV respectively, while the Urbach energy increased from 0.73 eV to 1.16 eV. These results show that the UV shielding and photostability of PVB nanocomposite films are significantly changed with the low dispersion of MWCNTs.