Recent literature (2000-2008) on the functionalization methods leading to soluble carbon nanotubes is reviewed. Carbon nanotubes (CNTs) can be solubilized by a series of methods, including their functionalization by the aryl diazonium process, use of elemental metals, simple inorganics, acids, esters, aldehydes, amines, aromatics, macrocycles, thiols, biomolecules, polymers, and using such techniques as pulsed streamer discharge, microwave treatment, cryogenic crushing, or gamma-irradiation. In a difference with the functionalization methods applied in the past decade of the 20th century (frequent use of strong acidic media as a first step and further attachment of various organic moieties), current techniques involve a much wider number of functionalizing agents paying main attention to macrocycles, biomolecules, and polymers, as well as using such special techniques as use of radionuclides, irradiation, microwave treatment, or pulsed streamer discharge. Reactivity, physicochemical properties, and main applications of soluble CNTs are analyzed.