Owing to the piezoelectric effect of bone, electrical stimulation (ES) has commonly be used as a stimulating factor to promote bone repair and regeneration. Its extremely important to prepare a conductive calcium phosphate cement (CPC) having the reactivity of ES stiumatlation. In this study, conductive CPC were prepared by adding different amounts of RGO/PPy composites as conductive medium into the CPC solid phase. The physicochemical performances of CPC were characterizedand cell compatibility were investigated by co-cultured with osteoblasts in vitro. Moreover, when the same ES currrent was used on the conductive CPC samples,the effects of different ES stimulus frequency on the proliferation and differentiation of osteoblasts were also investigated. The results showed that the addition of RGO/PPy has no effect on the composition of CPC. The mechanical performance decreases and the conducitivity increses with the increase of RGO/PPy adding amount. When the current value of the direct electonic stimulus emploied on CPC sample was setting to be 10 mA, CPC under the stimulus with 5mA for 2 hour a day presents better cell compatibility than that with 10 mA for 1 hour a day. When the adding amount of RGO/PPy was 8wt% for CPC preparation and the micro DC stimulation was 5mA for 1 hour a day during CPC with cell co-culture, the proliferation activity and the differentiation activity of osteoblasts on the CPC have the best performances.