In this study, rare earth metal samarium (Sm) was successfully plated on the surface of multiwall carbon nanotubes (MWCNTs) by a simple and efficient method in aqueous solution. This novel nanocomposites integrates the special performance of MWCNTs and Sm, demonstrating special photoluminescent behavior. The successful synthesis process and the structure of the obtained nanocomposites were confirmed by a series of characterization methods and instruments. The photoluminescence property of the nanocomposites was investigated in detail by fluorescence spectrophotometer. From these results we can conclude that Sm content make an important effect on the photoluminescence property. The photoluminescence intensity of the nanocomposites enhanced with the increace of Sm content. All the nanocomposites with different Sm content emit a yellow light at room temperature. Such photoluminescent materials combined the special properties of MWCNTs and samarium, showing potential application in various fields, such as light conversion agent, luminescent materials, phosphors and nanometer-scale opto-electronic devices.