Some regularities of covalent functionalization multiwalled carbon nanotubes (MWCNTs) by oxygen- containing groups were studied. The resulting materials were characterized by electron microscopy, thermogravimetric analysis, FTIR and Raman spectroscopy. The dependence of the degree of functionalization of MWCNTs from the process conditions was stated. The advantages of the gas phase to the liquid phase oxidation were shown. The effect of pristine and functionalized MWCNTs on the properties of composites with polysulfone was studied. Pristine and functionalized MWCNTs were modified with polyaniline. The effect of the method and degree of pre-functionalization of carbon nanotubes on the regularities of the oxidative polymerization of aniline and the properties of the obtained materials was shown. Key words: multiwalled carbon nanotubes, functionalization, modification, oxidation, composites, polyaniline.