Novel biodegradable nanocomposites containing multi wall carbon nanotubes (MWCNT) and poly(citric acid) (PCA) were successfully synthesized. For preparation of nanocomposites, MWCNT was opened using a mixture of sulfuric and nitric acid and its derivative containing –COOH and –OH functional groups was obtained. Polycondensation of monohydrate citric acid in the presence of functionalized MWCNT in the melting state was lead to nanotube-graft-poly(citric acid) (CNT-g-PCA) nanocomposites. The degree of polymerization of grafted hyperbranched poly(citric acid) onto the CNTs was controlled using CNT/citric acid ratio. The CNT-g-PCA were soluble in water freely and stirring their water solution and silver nitrate at room temperature lead to the CNT-g-PCA containing encapsulated silver nanoparticles in their polymeric shell. The structure of nanocomposites was characterized by TEM, DLS and spectroscopy methods.