In this paper we propose a simple procedure to obtain multi-walled carbon nanotubes (MWCNT) decorated with TiO2-Ag nanoparticles (MWCNT-TiO2-Ag). MWCNT were decorated with TiO2-Ag via combined functionalisation with -OH and –COOH groups and polymer wrapping technique using poly(allylamine hydrochloride) (PAH). TiO2 modified Ag nanoparticles were synthesized through Pechini method using mixture of acetylacetonate-modified titanium (IV) isopropoxide with silver nitrate (the Ag+/Ti4+ atomic ratio, is 0.5, 1,0, 1.5, 2.0 and 2.5 %, respectively) and the L(+)-ascorbic acid, as reducing agents. XRD analysis revealed the formation of nanocomposite containing CNT, TiO2 (anatase and rutile) and Ag. By SEM was evidenced the presence of the nanoparticles on MWCNT surface. The increases of the ratio between Ag+ and Ti4+ decrease the band gap energy of the samples. In Raman spectra the characteristic vibration of the TiO2, Ag and C atoms of graphite are identified. The photocatalytic activity of the MWCNT-TiO2-Ag nanocomposite was assessed by examining the degradation of Allura red (E129) aqueous solution under UV irradiation. The dye photodegradation process follows a pseudo – first – order kinetic with respect to the Langmuir – Hinshelwood reaction mechanism.