Abstract The main aim of the current study was to fabricate bio‐ and electro‐active electrospun nanofibrous neural conduits for peripheral nerve regeneration. At first, polyaniline ‐co‐ polydopamine (PANI‐ co ‐PDA) random copolymer was synthesized using a chemical oxidation polymerization method. The synthesized copolymer was blended with poly(vinyl alcohol) (PVA) and used for the electrospinning to afford nanofibrous neural conduits. The characterization showed that the fabricated nanofibers have a diameter in the range of 500–600 nm, and the incorporation of PANI ‐co‐ PDA slightly reduced the hydrophilicity, water absorption capacity, while the electrical conductivity and mechanical properties were increased. The in vitro studies revealed the biodegradability (evaluated using weight loss and morphology study), hemocompatibility (assessed using hemolysis measurement), and biocompatibility (investigated using MTT assay kit) of the fabricated nanofibers. Moreover, the assembled homemade conduit fabricating electrospinning setup resulted in a conduit with proper dimensions, 2 mm in diameter and 2 cm in length. It was found that the fabricated nanofibrous conduits confer proper biological, mechanical, and electrical properties and can be applied as the peripheral nerve regenerating construct.