Carbon nanomaterials have emerged as an interesting topic for researchers from all over the world due to their exceptional properties and their wide range of applications. Extraordinary electrical conductivity, heat conductivity, and the novel properties of carbon nanotubes (CNTs) have been at the apex for their different fields of applications around the world. However, their low dispersion and solubility in various standard solvents or polymeric solutions have been a matter of research. This crisis could be mitigated by the respective noncovalent or covalent functionalization of carbon nanotubes. CNT functionalization is a suitable approach to control the low solubility and dispersion and of CNTs in many polymers or solvents. This chapter briefly mentions the various techniques for the functionalization of CNTs and other useful carbon nanomaterials which include carbon nanotubes, graphene, carbon fibers, and fullerene. Furthermore, the fundamental synthesis method of the aforementioned carbon nanomaterials is highlighted and areas are suggested for future investigation.