Raw single-walled carbon nanotubes (SWCNTs) were oxidized by using sulfuric acid and nitric acid at 3:1 ratio to produce oxygen functional groups attached to SWCNTs surfaces. Then, the oxidized SWCNTs are coated with zinc oxide and silver nanoparticles by chemical precipitation route to synthesize ZnO/Ag-SWCNTs nanocomposite material. The nanocomposite sample was analyzed via zeta potential analyzer, ultraviolet-visible (UV-Vis) spectrophotometer, field emission scanning electron microscopy (FESEM), energy dispersive X-ray spectroscopy (EDS), X-ray diffraction (XRD), and Raman spectroscopy to investigate colloidal stability, optical, morphological, and structural properties. The SWCNT properties were found to be changed after the addition of ZnO/Ag nanoparticles. Hence, the new ZnO/Ag-SWCNTs nanocomposite is a good candidate for photocatalyst applications and biological applications.