Schottky barriers formed at carbon nanotube (CNT)-metal contacts have been well known to be crucial for the performance of CNT based field effect transistors (FETs). Through first principles calculations we show that a nanowelding process can drastically reduce the Schottky barriers at CNT-metal interfaces, resulting in significantly improved conductivity of CNT-based FETs. The proposed nanowelding can be realized by either laser local heating or a heating process via a controllable pulse current. Results presented in this paper may have great implications in future design and applications of CNT-based electronics.