Sub-microsecond time-resolved absorption spectroscopy has been used to study the electronically excited state behavior of soluble multiwalled carbon nanotube (MWNTsCON((CH2)9- CH3)2, denoted as MDDA) in chloroform, toluene and cyclohexane. Following pulsed photo-excitation of MDDA at 355 nm, three major spectral components are clearly identified with the help of global analysis carried out over 7 representative kinetics curves from 450 to 700 nm. The solvent dependence of decay associated difference spectra (DADS) and the corresponding lifetimes help to assign these transient species to singlet state (S1), triplet state (T1) and charge-separated state (CS), respectively. Preliminary discussion had been made to explore the involved photophysical and electron transfer processes.