The subject invention provides a two-phase liquid-liquid extraction process that enables sorting and separation of single-walled carbon nanotubes based on (n, m) type and/or diameter. The two-phase liquid extraction method of the invention is based upon the selective reaction of certain types of nanotubes with electron withdrawing functional groups as well as the interaction between a phase transfer agent and ionic moieties on the functionalized nanotubes when combined in a two-phase liquid solution. Preferably, the subject invention enables efficient, bulk separation of metallic/semi-metallic nanotubes from semi-conducting nanotubes. More preferably, the subject invention enables efficient, bulk separation of specific (n, m) types of nanotubes.