To observe a clear-cut example of the formation of mobile carriers from excitons on semiconducting single-walled carbon nanotubes (s-SWCNTs) surrounded by a medium with a high dielectric constant, water-dispersible s-SWCNT nanocomposites were fabricated by physical modifications using poly(amidoamine) dendrimers that contain an aliphatic core. The evolution of H2 from water using these s-SWCNT/dendrimer nanocomposites as photosensitizers under irradiation with visible light demonstrated a photo-induced electron transfer from the s-SWCNTs to the co-catalysts.