A comprehensive study on the prevailing conduction mechanism, dielectric relaxation and current voltage behaviour of Polyvinyl alcohol (PVA) – Silver (Ag) nanotube composite film has been reported. Introduction of Ag nanotubes enhances the conductivity and dielectric permittivity of film. Film shows semiconducting behaviour with two activation energies. The dc conductivity of the nanocomposite film obeys the adiabatic small polaron model. The dielectric permittivity can be analysed by modified Cole-Cole model. A non-Debye type asymmetric behaviour has been observed in the sample. The back to back Schottky diode concept has been used to describe the current-voltage characteristic of the composite film.