In this study, the adsorption morphologies as well as stability and transitions of a commercial dispersant copolymer (BYK 9076) on the surface of multiwalled carbon nanotubes (MWCNTs) were studied using Fourier transform infrared and UV-vis spectroscopy, dynamic light scattering, and electron microscopy techniques. The results show that the dispersion of carbon nanotubes in ethanol does not increase continuously with increasing copolymer/CNT ratio, which is correlated with the adsorption morphologies of the copolymer on the CNT surface. At a ratio of copolymer/CNT below 0.5, the morphology is random, shifting to a hemimicelle structure at a ratio from 0.5 to 1.0 while at ratios above 1.0, a cylindrical pattern is seen. The hemimicelle morphology is able to prevent the agglomeration of CNTs when the CNT concentration increases to 8.7 mg/mL, while cylindrical morphology is more efficient and stable to provide dispersion of CNTs at higher concentrations of CNTs.