A considerable amount of research has been devoted to carbon nanotubes because of their unique electrical, mechanical, optical, and chemical properties. Here, in this report, we introduce a novel, simple ultraviolet initiated ''graft from'' polymerization method to synthesize PEGylated carbon nanotubes. This grafting procedure significantly enhanced nanotube aqueous dispersibility and long term stability in solution. Mass of grafted polymer chains was easily modulated by adjusting polymerization reaction time, and nanomaterials containing up to 80% polymer by weight were synthesized. Nanotube morphology was characterized by SEM, TEM before and after the functionalization. In addition, the covalent bonding of polymer chains to the nanotubes structure was elucidated by Raman, ATR-FTIR, and XPS spectroscopy.