CdS nanotubes with wall thickness comparable to excitonic diameter of the bulk material are synthesized by a chemical route. A change in experimental conditions result in formation of nanowires, and well-separated nanoparticles. The diameter and wall thickness of nanotubes measured to be 14.4 ± 6.1 and 4.7 ± 2.2 nm, respectively. A large number of CdS nanocrystallites having wurzite structure constitute these nanotubes. These nanotubes show high energy shifting of optical absorption and photoluminescence peak positions, compared to its bulk value, due to quantum confinement effect. It is proposed that nucleation and growth of bubbles and particles in the chemical reaction, and their kinetics and interactions are responsible for the formation of nanotubes.