High-thermally conductive AlN-based microwave attenuating composite ceramics with spherical graphite (SG) as the attenuating agent were fabricated through hot-pressing sintering. The SG maintains its three-dimensional (3D) morphology within the sintered bodies, which considerably impedes the sintering of the composites to some extent but slightly influences on the growth of AlN grains. The addition of SG reduces the strength of the composites, but provides a moderate toughening effect at the optimal addition amount (3.8 MPa·m^1/2 at 4 wt% SG). Benefiting from the low anisotropy, high thermal conductivity, and the 3D morphology of SG, the composites exhibit a relatively higher thermal conductivity (76.82 W·m^-1·K^-1 at 10 wt% SG) compared with composites added with non-spherical attenuating agent. The dielectric constant and loss (8.2-12.4 GHz) increase remarkably as the amount of SG added increases up to 8 wt%, revealing that the incorporation of SG improves the dielectric property of the composite. The composite with 7 wt% SG exhibits the best absorption performance with a minimum reflection loss of -13.9 dB at 12.4 GHz and an effective absorbing bandwidth of 0.87 GHz. The excellent overall properties of the SG/AlN microwave attenuating composites render them as a promising material for various applications. Moreover, SG has a great potential as an attenuating agent for microwave attenuating composites due to its strong attenuation upon integration, high thermal conductivity, and low anisotropy.