Transparent and conductive thin films of multiwalled carbon nanotubes (MWCNTs) with different lengths were prepared on glass substrates by the spin coating method. In order to reduce the MWCNTs length, they were functionalized. The initial length of MWCNTs (10–15 μm) was reduced to 1200, 205 and 168 nm after 30, 60 and 120 min refluxing time, respectively. After post annealing at 285 °C for 24 h, the electrical and optical properties were greatly improved for functionalized MWCNT thin films. They strongly depend on the length of CNTs. The optical transmittance of the film prepared using 30 min reflux CNTs was 2.6% and 6.6% higher than that of the 60 min and 120 min refluxed samples respectively. The sheet resistance of this film showed reductions of 45% and 80% as well. The film also exhibited the least roughness. The percolative figure of merit, which is proportional to the transparency and disproportional to the sheet resistance, was found to be higher for the sample with 30 min refluxed MWCNTs.