Abstract: To predict the most suitable EOS for the analysis of real compression behavior of carbon nanotube bundles, single carbon nanotubes and Graphite we have used Suzuki, Shanker, Tait and Murnaghan Equation of states. The analysis of computed results suggests that the Suzuki formulation is not capable of explaining the compression behavior of nanomaterials at higher pressure. Shanker formulation gives slightly better results of volume compression at different pressure than the Suzuki formulation but the results obtained by Tait’s and Murnaghan EOS are in good agreement to the experimental data for nanotube bundle and individual carbon nanotubes in the entire range of pressure. Surprisingly it is observed that only Murnaghan formulation gives the better agreement with the experimental results for graphite than Tait’s formulation. Thus it is concluded that, the well known and widely used Murnaghan EOS is still most suitable and valid for the bulk as well as nanomaterials. The present study also reveals the fact that individual carbon nanotubes are less compressible than bundles of carbon nanotubes.