This article reports a novel percolation mechanism in carbon nanotube (CNT)/polyethylene composites with combined segregated and double percolated structure, in which the CNTs form conductive networks in high-density polyethylene (HDPE) and the CNT/HDPE component forms continuous conductive layers at the interface between the ultrahigh-molecular-weight polyethylene granules. The combination of segregated and double percolated structures achieved an ultralow percolation of 0.049 vol.%CNT. Morphological studies and the determination of the critical exponent t value obtained from the classical threshold mechanism indicate the formation of a three-dimensional conductive network. This work provides a guideline for the easy fabrication of high performance CPCs with an ultralow percolation threshold.