Perovskite solar cells (PSC) comprising of organic–inorganic lead halide composition have been considered as the future candidates for substituting the costly crystalline silicon-based solar cells if the challenges of efficiency and stability are adequately addressed. PSCs have been known for the employment of costly materials serving as electron transport, hole transport layers and back contact electrode such as gold, silver, or aluminum, needing thermal deposition in high vacuum ambiance. Metallic electrodes have been observed as not robust and thus, prone to quick degradation hindering the overall photovoltaic functionality of PSC devices. Carbon-modified PSCs via utilization of carbon nanotubes (CNTs) have been a favorable choice in terms of longer stability and efficiency. Considering the overpowering potential of CNTs in transforming PSC device functionality, current review has been designed to elucidate the most recent progressions carried out in utilization of CNTs in PSCs. Furthermore, this review focussed a critical view on the utilization of CNTs-based PSCs for lower fill factors and other photovoltaic parameters in addition to the account of ways to solve these concerns. Photovoltaic community researchers need to develop cost effective methods for resolving the lower efficiencies and fill factors associated with use of CNTs and can further explore different novel materials to successfully modify CNTs for employment in PSCs.