Hydroxamic acids are recognized chelators for various metals; however, using them as functional groups on carbon nanotubes (CNTs) is rare. In this study, novel multi-walled carbon nanotubes (MWCNTs) functionalized with hydroxamic acid derivatives were developed. The MWCNTs were first oxidized, and the resulting product, MWCNT-COOH (A), was treated with oxalyl chloride to yield MWCNT-COCl. The functionalized MWCNTs were susceptible to reacting with the hydroxylamine derivatives of type R–NHOH and produced MWCNTs functionalized with the following hydroxamic acid derivatives (MWCNT-HA): MWCNT-CONOHMe (B), MWCNT-CONOHCOMe(C), and MWCNT-CONOHPh (D). The synthesized derivatives were confirmed by various techniques such as scanning electron microscopy, X-ray photoelectron spectroscopy, and Raman spectroscopy. In order to examine their chelation ability, these materials were examined as possible new adsorbents for harmful Pb(II) particles. The adsorption efficiency of the functionalized MWCNT adsorbents toward Pb(II) was investigated. The effects of the adsorbent dose, temperature, pH, and time on adsorption efficiency were considered, and adsorption boundaries that resulted in enhanced effectiveness were obtained. The developed materials were found to have extraordinary coordination sites, such as amine, hydroxyl, and carboxyl groups, which served as excellent chelating specialists for the Pb(II) particles. Thermodynamic and kinetic investigations revealed the unconstrained nature of the adsorption of Pb(II) by the developed MWCNT adsorbents at room temperature. The adsorption was noted to follow the pseudo-second-order and Langmuir isotherm models.