Hybrid nanostructures are fascinating materials for their promising applications in future nanoelectronics, electrical interconnects and energy storage devices. Practical ways of connecting individual carbon nanotubes to metal contacts for their use as interconnects and in electronic devices have been challenging. In this thesis, carbon nanotube based hybrids that combine the best properties of carbon nanotubes and metal nanowires have been fabricated. The electrical properties and Raman spectra of the hybrid nanowires are also studied. This thesis will focus on our recent results in the development of carbon nanotube hybrids for various applications. Various hybrid structures of multiwalled carbon nanotubes and metal nanowires can be fabricated using a combination of electrodeposition and chemical vapor deposition techniques. Controlled fabrication of multi-segmented structures will be studied. Several novel applications of these structures, for example, as electrodes in ultra-high power supercapacitors, multi-functional smart materials are also studied. The thesis will also highlight the development of carbon nanotube hybrids based smart materials. Hybrid nanowires with hydrophobic carbon nanotube tails and hydrophilic metal nanowire heads, allows for the assembly of spheres in solution. The design and manipulation of these carbon nanotube hybrids based smart structures for various novel applications will be discussed. Such new class of carbon nanotube hybrids surfactants are likely to lead as new tools in various fields such as microfluidics or water purification. In addition, we will also look at other variations of hybrid nanostructures fabricated from our method.