Carbon nanotube (CNT) incorporated eucalyptus derived activated carbon-based novel adsorbent is synthesized by a novel route. This adsorbent is investigated for the removal of two different dyes; methylene blue (MB) and eosin yellow (EY) from the waste water. The effect of pH, adsorbent dose, contact time and initial concentration, has been used to measure the dye removal efficiency of the adsorbent. Langmuir isotherm, Freundlich isotherm and D-R isotherm models were used to fit the experimental dye adsorption data, with the D-R model providing the best fit. The maximum adsorption efficiency of adsorbent for MB and EY removal is 49.61 and 49.15 mg/g, respectively. Reaction kinetics studies were also established to further investigate the dye adsorption mechanism. It is observed that pseudo second order model define the reaction kinetics involved in the reaction. This activated carbon adsorbent based on CNTs is shown to be highly promising for water decontamination applications.