This study investigated the effect of graphite nanoplatelet (GNP) size and dispersion on the thermal conductivities and tensile strengths of epoxy-based composites. GNPs of four different platelet sizes, ranging from 1.6 to 3 µm, were derived by mechanically exfoliating and breaking expanded graphite (EG) particles using high-energy bead milling and sonication. The GNPs were used as fillers at loadings of 0–10 wt%. As the GNP size and loading amount increased, the thermal conductivities of the GNP/epoxy composites increased, but their tensile strengths decreased. However, interestingly, the tensile strength reached a maximum value at the low GNP content of 0.3% and thereafter decreased, irrespective of the GNP size. Our observations of the morphologies and dispersions of the GNPs in the composites indicated that the thermal conductivity was more likely related to the size and loading number of fillers, whereas the tensile strength was more influenced by the dispersion of fillers in the matrix.