Since the discovery in 1991, a tremendous research activity in carbon nanotubes (CNTs) has been carried out worldwide. Carbon nanotubes are graphene sheets rolled-up into cylinders with nanometer size diameter. The paperreviews the preparation methods of these novel materials and their potentiality as building blocks for various applications in nano-electronics, nano-optics, nanocomposites. Controlling the nanotubes growing process and improving their properties through functionalization methods are major opportunities and challenges for chemistry and chemical egineering.