Encapsulation of a metallofullerene single-molecule magnet, Dy2ScN@C80, into single-wall carbon nanotubes (SWCNTs) accelerates magnetic relaxation processes. In contrast, encapsulation of DySc2N@C80 suppresses them. The effects of the encapsulation are discussed in terms of intermolecular magnetic interactions and charge transfer among metallofullerenes and SWCNTs.