Single-walled carbon nanotubes (SWNTs) were functionalized by poly(ethylene-co-vinyl alcohol) (EVOH) copolymer under carbodiimide-activated esterification reaction conditions. Similar to the parent EVOH copolymer, the EVOH-functionalized carbon nanotubes are soluble in highly polar solvent systems such as DMSO and hot ethanol-water mixtures. The soluble EVOH-SWNT sample was characterized by various techniques, including optical absorption, Raman, NMR, electron microscopy, and thermogravimetric analysis. The common solubility of EVOH and EVOH-SWNT allowed their intimate mixing in solution, and thus the fabrication of nanocomposites in which the SWNTs are homogeneously dispersed in the polymer matrix.