Poly(lactic-co-glycolic acid) (PLGA)/multiwalled carbon nanotubes (MWNTs) composite fiber mats were prepared by electrospinning and gas-jet/electrospinning. The morphology and diameter of the electrospun PLGA/MWNTs fibers were tailored by controlling process parameters; smooth and uniform PLGA/MWNTs fibers were obtained by using the following optimized process parameters, 25 wt% PLGA concentrations, 0.25% w/v MWNTs contents, 20 kV applied voltage, 13 cm tip-to-collector distances, 0.27 mm inner diameters, and 0.2 mL/min feeding rates. The cytocompatibility of the PLGA/MWNTs fibers prepared by optimizing process parameters was evaluated using rat bone marrow-derived mesenchymal stem cells. Good-quality cell attachment and characteristic cell morphology were observed on the fibers. The PLGA/MWNTs fiber mats, fabricated by electrospinning, indicate excellent potential for bone tissue engineering applications, particularly as scaffolds for bone tissue regeneration.