A versatile solid Poly-methyl-methacrylate (PMMA) composite containing porphyrin-covalently functionalized multi-walled carbon nanotubes (MWNTs-TPP) was prepared through free radical polymerization without additional dispersion stabilizer. Using nanosecond, femtosecond pulse Z-scan and degenerate femtosecond pump-probe techniques, we studied the optical limiting effect, ultrafast saturable absorption and transient differential transmission of the composite. Results show that the solid composite exhibits weaker optical limiting effects than that of the suspension at 532 nm under nanosecond pulse, due to the absence of nonlinear scattering mechanism. The composite also shows ultrafast saturable absorption with a relaxation time about 190 fs at 800 nm under femtosecond pulse due to band-filling effect, comparably to the suspension. The versatile solid composite can be the candidate for uses in applications of ultrafast optical switching and mode-locking element or optical limiter for nanosecond pulse.