The electronic model of the kinetics of carbon nanotube growth catalyzed by metal nanoparticles has been presented in this study using the electron theory of catalysis and the d-band model. This electron model takes into account weak and strong chemisorption of carbon species on the surface of the catalysts, determined by the position of the Fermi level of the catalysts with respect to the antibonding states of the carbon intermediates. The fractions of ‘weak’ and ‘strong’ chemisorbed carbon species participating in adsorption, decomposition, diffusion, and incorporation processes are shown to define the carbon nanotube growth rate as a function of the Fermi level of the metal catalyst. The role of chemical nature and size of catalytic nanoparticles in carbon nanotube growth are discussed within this model. This model can be used for the optimization of the nanotube growth rate based on the chemical nature, size, shape or alloying of nanocatalysts.