Graphene nanoplatelets (GNPs) are used to enhance the mechanical properties and functionality of wood plastic composite (WPC) targeting applications such as de-icing or anti-icing and fast thermal diffusivity. The GNPs are integrated into neat polymer using a masterbatch containing functionalized graphene by melt compounding through a twin-screw extruder without the use of any coupling agent or compatibilizer. The same manufacturing process (melt compounding) but with the use of compatibilizer is employed to produce WPC with nano-doped matrix. The effect of different GNP loadings (up to 15 wt.%) on morphology, crystallinity, mechanical and thermal conductivity of the nanocomposites and the WPCs was investigated. It was found that both strength and modulus of nanocomposites, in tension and bending, were increased with the addition of GNPs. With the aid of MAPE compatibilizer WPCs show higher flexural strength and modulus than neat polymer. GNP has marginal effect on the flexural stress but further increases flexural modulus of WPC. The preliminary results related to the thermal conductivity of studied materials indicate that the incorporation of GNP may be beneficial for faster and more uniform heat distribution in WPC.