The covalent grafting of xanthates onto carbon nanotubes (CNTs) by using peroxides as radical initiators was studied. Carbon nanotubes were functionalized with seven different xanthates by employing dilauroyl peroxide as a radical initiator. This allowed for the concomitant double functionalization by both xanthate and peroxide moieties. This one‐step double functionalization was demonstrated by the use of a heteroatom‐containing peroxide, and optimization reactions were performed to determine the maximum grafting yields of each component. The maximum grafting yield of the xanthate occurred when the xanthate and peroxide were introduced in stoichiometric amounts, whereas the grafting yield of the peroxide was simply a function of the quantity of peroxide introduced to the reaction. On the basis of these results, a mechanism for this double functionalization is proposed. Finally, some postfunctionalization reactions of the grafted moieties were performed as proof that their chemical integrity was retained after being anchored to the CNT surface.