Water‐soluble single‐ and multi‐walled carbon nanotubes (CNTs) were prepared by grafting polyacrylamide chains from the graphitic surface via ceric ion‐induced redox radical polymerization. The reducing functionalities were covalently attached to the tubes by peroxide‐assisted radical reaction. The results showed that polymer chains were grafted onto CNTs by the redox process. The redox radical polymerization initiated by carbon nanotube‐bearing functionalities not only provides a powerful strategy for modifying the carbon nanostructures but also gives us the knowledge of their sidewall chemistry.