CNTs is a fullerene molecule, described in 1991 by the Japanese Scientist ‘‘Sumio Iijima’’ as tube-shaped of graphitic carbon, can be obtained either single or multi-walled nanotube, having a diameter measuring on the nanometer scale, and generally known as buckytubes. Carbon nanotubes (CNTs) have established much recent interest as new entities for experimental disease diagnosis and treatment because of their unique electronic, mechanical, thermal, spectroscopic, metallic, semiconducting and superconducting electron transport properties. Carbon nanotubes can be acquired in numerous ways, the general techniques are Arc discharge, Laser ablation, and Chemical vapour deposition (CVD). Carbon nanotubes are discussed in this review in terms of characters, history, structures, properties, synthesis, purification, characterization methods, toxicity and applications. Purification of nanotubes includes many techniques: Acid treatment, oxidation, annealing, ultrasonication, cutting, magnetic purification, chromatography techniques. Further functionalization enhanced the water solubility of CNT's and completely transformed their biocompatibility profile. Carbon nanotubes, due to their large surface areas, unique surface properties, and needle-like shape, can deliver a lot of therapeutic agents, including DNA, siRNAs and proteins to the target disease sites. CNTs can be readily excreted through the renal route by means of degradation through myeloperoxidase (MOP) enzyme. As CNTs have attracted the fancy of many scientists worldwide, the work beyond our expectations and their simple mechanism with long lasting life makes it more reliable to use. The unique and unusual properties of these structures make them a unique material with a whole range of promising applications.