In this paper, carbon nanotubes (CNTs) have been investigated as oxygen cathode materials used for Li-oxygen/air cells and compared with carbon black (CB), graphite (G), and active carbon (AC). Both multi wall nanotube (MWNT) and single wall nanotube (SWNT) showed advantage when compared with other types of carbonaceous materials. The higher discharge capacity of CNTs than AC is explained by the exposed surface area surface area. SWNT is very promising as a cathode material in terms of higher capacity and energy density for Li-oxygen/air cells, while MWNT has low cost advantages. CNT based high energy density Li-oxygen/air cells have the potential to be developed into high next generation specific energy power sources.