Carbon nanotubes (CNTs) are effective supports for nanometals and together they represent hybrids that combine the unique properties of both. A microwave-induced reaction was used to deposit nanopalladium on carboxylated and octadecylamine functionalized multiwall CNTs, which were used to carry out C–C coupling reactions in dimethylformamide (DMF) and toluene. These hybrids showed excellent catalytic activity with yield as high as 99.8%, while its enhancement with respect to commercially available Pd/C catalyst reached as high as 109%, and the reaction times were significantly lower. The polarity of the functionalized form was found to be a significant factor with the polar carboxylated CNT showing better activity in DMF while the relatively nonpolar octadecyl amine was better in toluene. The results suggest the possibility of tailor making functionalized CNTs when used as catalyst supports.