This study aims at preparation and characterization of novel drug delivery system based on functionalized multi-walled carbon nanotubes (MWCNTs) with tetraethyl orthosilicate (TEOS) using sol-gel technique, in presence of albendazole (ABZ) which used as a drug model. The prepared materials were characterized using Fourier transform infrared spectroscopy (FTIR), transmission electron microscope (TEM), particle size distribution analysis using dynamic light scattering (DLS) technique and thermogravimetric analysis (TGA). In vitro kinetic release study of the immobilized ABZ was carried out using enzyme-free simulated gastric fluid (SGF) at pH 2.5 and 37ºC as well as by using the different mathematical models (zero order, first order and higuchi). Moreover, in vitro cytotoxic effect on the human normal fibroblast cell line (BHK) using SRB assay was also investigated. The results indicated that FTIR, TGA and particle size analysis of the prepared materials illustrating the successful immobilization of ABZ onto the functionalized MWCNTs. Besides, TEM images showed that the immobilized ABZ onto oxidized MWCNTs had agglomerated fibers without damage. Moreover, in vitro cytotoxic study revealed that the immobilized ABZ had low toxic effect on BHK cell line in comparison with the free drug. The cumulative ABZ released resulted in a biphasic release behavior with rapid initial burst phase.