Palladium nanoparticles having cubic silsesquioxanes (POSS) (Pd-POSS) were produced by the reaction of palladium (II) acetate and octa(3-aminopropyl)octasilsesquioxane octahydrochloride (POSS-${NH_3}^+$ in methanol at room temperature. Functionalized multiwalled carbon nanotubes (MWNT-COOH) were prepared by acid treatment of pristine MWNTs. The hybrid nanocomposites of Pd-POSS and MWNT-COOH (Pd-MWNT nanocomposites) were synthesized by self-assembly method via ionic interaction between positively charged Pd-POSS and negatively charged MWNT-$COO^-$. The spherical aggregates of Pd-POSS with a diameter of 40-60 urn were well attached to the surfaces of MWNT-COOH on Silicon wafer. The composition, structure, and surface morphology of Pd-MWNT nanocomposites were studied by UV-vis spectrophotometer, energy dispersive spectrum (EDX), scanning electron microscopy (SEM), and atomic force microscope (AFM).