Multiwall carbon nanotubes (MWNT) with three medium diameters (20–22, 9–13, and 6–8nm) and different morphology were chemically oxidized using concentrated nitric acid, mixture of nitric and sulfuric acids (“mélange” solution) and mixture of sulfuric acid and hydrogen peroxide (“piranha” solution). Influence of MWNT type and structure as well as type of oxidizer on the surface composition and structure of nanotubes after oxidation was investigated. Acid–base titration, X-ray photoelectron spectroscopy and thermal gravimetric analysis were used for quantitative and qualitative investigation of surface group composition of initial and oxidized nanotubes. Amount of oxygen-containing groups on the surface of oxidized MWNT depends on the type of initial MWNT. It was found that ratio of different oxygen containing groups is less dependent on the type of oxidizer. Electrophysical properties of initial and oxidized nanotubes were investigated in temperature range 4–293K and main types of electrical conductivity were determined. It was shown that oxidation results in decrease in electrical conductivity of all samples with simultaneous change in the conductivity mechanism. Dispersive behavior of initial and oxidized nanotubes in different commonly used solvents was investigated. It was shown that oxidation leads to the improvement of sedimentation stability of MWNT in polar solvents.