Carbon nanotubes have attracted great interdisciplinary interest because of their unique structure and properties. However, carbon-nanotube research is challenged by several problems, such as: i) mass production of material, ii) control of length, diameter, and chirality, and iii) manipulation for use in diverse technological fields. Issues regarding the synthesis and purification as well as the functionalization and solubilization of carbon nanotubes are relevant topics in this rapidly growing field. In this paper, covalent and noncovalent approaches to functionalized and solubilized nanotubes are examined in detail, with particular emphasis on the change of properties that accompany the chemical modification.