The effect of cadmium selenide quantum dots on a room temperature discotic liquid crystalline material has been studied. These composites were characterized using differential scanning calorimetry, polarizing optical microscopy, impedance spectroscopy and small angle X-ray scattering. It was found that the composite with the lowest concentration of quantum dots enhanced the quasi one-dimensional conductivity of the discotic liquid crystal by five orders of magnitude without altering the columnar hexagonal phase. X-ray scattering results reveal that a decrement in the core–core distance is brought about by the intercalation of quantum dots in between the columns of the discotic liquid crystal matrix. Dielectric spectroscopy shows a relaxation mode in the high frequency region of the pure discotic material as well as in the composites.