The conjugation of nanoparticles to carbon nanotubes (CNTs) involves various steps including premodification of the nanotubes, which is known to be a very tedious process and sometimes leads to a mixture of products. In this regard, a direct route to generate such conjugates is a worthwhile endeavor. In this paper, we report a novel, mild, one-pot, approach to a controlled and direct coordination of Pd nanoparticles (Pd NPs) onto the surface of single walled carbon nanotubes (SWNTs), without any pre-modification of the SWNTs surface. We also present detailed characterization of the SWNT-Pd NP hybrid systems using High Resolution Transmission Electron Microscopy (HRTEM), Energy Dispersive X-ray Spectroscopy (EDS), Mid-Infrared Spectroscopy (Mid-IR) and UV-Visible Spectroscopy (UV-vis) along with the stability studies of the nanoconjugates.