Nanofluids significantly influence modern life due to their vast usages in the modern era. Transport analysis of non‐Newtonian fluids with nanoparticles (carbon nanotubes) over a stretching surface is the primary focus of the present investigation. Effects of viscous dissipation, porous medium, magnetic field, and heat source factors are also examined. Boundary layers approximation is used to simulate the underlying collection of partial differential equations (PDEs) that regulate the system. Using non‐similarity transformation, the basic PDEs of the model are converted into dimensionless nonlinear PDEs. Up to the second level of truncation PDEs that can be treated as ordinary differential equations (ODEs) are generated from dimensionless PDEs utilizing local non‐similarity approach. The resultant nonlinear differential equations are computationally solved using bvp4c code of MATLAB technique. In this study, we compile and compare the obtained findings with previous research. Graphs demonstrate how the velocity and temperature profiles depend entirely on a wide range of physical parameters. A rise in the second‐grade fluid parameter upsurges the velocity distribution, while an increment in porosity and magnetic parameter declines the velocity distribution. As magnetic values, Eckert number, porosity parameter, and heat source increase, so does the temperature profile of the nanofluid.