This research focuses on the production and characterization of pristine polyacrylonitrile (PAN) as well as halloysite nanotube (HNT)-doped PAN ultrafiltration (UF) membranes via the phase inversion technique. Membranes containing 0.1, 0.5, and 1% wt HNT in 16% wt PAN are fabricated, and their chemical compositions are examined using Fourier transform infrared (FTIR) spectroscopy. Scanning electron microscopy (SEM) is utilized to characterize the membranes’ surface and cross-sectional morphologies. Atomic force microscopy (AFM) is employed to assess the roughness of the PAN/HNT membrane. Thermal characterization is conducted using thermal gravimetric analysis (TGA) and differential thermal analysis (DTA), while contact angle and water content measurements reveal the hydrophilic/hydrophobic properties. The pure water flux (PWF) performance of the porous UF water filtration membranes is evaluated at 3 bar, with porosity and mean pore size calculations. The iron (Fe), manganese (Mn), and total organic carbon (TOC) removal efficiencies of PAN/HNT membranes from dam water are examined, and the surfaces of fouled membranes are investigated by using SEM post-treatment. Mechanical characterization encompasses tensile testing, the Mori–Tanaka homogenization approach, and finite element analysis. The findings offer valuable insights into the impact of HNT doping on PAN membrane characteristics and performance, which will inform future membrane development initiatives.