This invention relates generally to a fullerene nanotube purification process and more particularly to a purification process that comprises heating the fullerene nanotube-containing felt under oxidizing conditions to remove the amorphous carbon deposits and other contaminating materials. In a preferred mode of this purification procedure, the felt is heated in an aqueous solution of an inorganic oxidant, such as nitric acid, a mixture of hydrogen peroxide and sulfuric acid, or a potassium permanganate. Preferably, fullerene nanotube-containing felts are refluxed in an aqueous solution of an oxidizing acid at a concentration high enough to etch away amorphous carbon deposits within a practical time frame, but not so high that the fullerene nanotube material will be etched to a significant degree. When material having a high proportion of fullerene nanotubes is purified, the preparation produced will be enriched in fullerene nanotubes, so that the fullerene nanotubes are substantially free of other material.