Carbon nanotubes are unique tubular structures of nanometer diameter and large length/diameter ratio. The nanotubes may consist of one up to tens and hundreds of concentric shells of carbons with adjacent shells separation of ~0.34 nm. Multiwalled carbon nanotubes were synthesized by arc-discharge technique. MWCNTs were formed at the cathode deposit along with other carbonaceous materials like amorphous carbon, graphite etc. However, to get the best advantage of carbon nanotubes in various advanced applications, these undesired carbonaceous materials to be removed which is a challenging task. In the present study, various techniques were tried out for purifying MWCNTs such as physical filtration, chemical treatment and thermal annealing. SEM, FTIR, TGA and BET techniques were used to characterize the CNTs at various stages. Results shows that suitable chemical treatment followed by thermal annealing under controlled flow of oxygen gives the better route for purification of carbon nanotubes.