Covalent functionalization of shortened multiwalled carbon nanotubes (MWNTs) with a natural low molecular weight chitosan (LMCS) was accomplished by a nucleophilic substitution reaction. Amino and primary hydroxyl groups of the LMCS contributed mainly to the formation of MWNT-LMCS conjugates. The LMCS content in the MWNT-LMCS is approximately 58 wt %, and approximately four molecular chains of the LMCS are attached to 1000 carbon atoms of the nanotube sidewalls. Most interestingly, the amorphous packing structure of the LMCS changed dramatically when it attached to the MWNTs. The MWNTs might induce the crystalline character of the LMCS. As a novel derivative of MWNTs, the MWNT-LMCS is soluble in dimethylformamide, dimethyl acetamide, dimethylsulfoxide, and acetic acid aqueous solution. The confirmation of the chitosan-based covalent functionalization route might lead to further studies aiming for potential applications in catalysis and environmental protection.