Carbon nanotubes(CNTs) coated with metals will show further improvement of electromagnetic shielding performance，due to the composite effect of CNTs and metal coatings. In this paper, Ni-coated CNTs (Ni-CNTs)were firstly prepared with a novel electroless plating method assisted with ultrasonic spray atomization, and then silver coated Ni-CNTs(Ni/Ag-CNTs) and copper coated Ni-CNTs(Ni/Cu-CNTs) were prepared respectively by electroless plating or coprecipitation. The obtained composite powders were characterized by TEM、FESEM and XRD. The Ni-CNTs showed continuous and uniform nickel layers on highly dispersed CNTs，and both the Ni/Ag-CNTs and Ni/Cu-CNTs composite powders showed the morphology of Ni-CNTs embedded in silver or copper particles. The multi-metal coated CNTs showed significant improvement of electromagnetic shielding properties, and the shielding effectiveness of Ni/Ag-CNTs, Ni/Cu-CNTs and Ni-CNTs was 89.34 dB, 72.21 dB and 55.62 dB, respectively.