We report the preparation of stable dispersion of multiwalled carbon nanotubes (MWCNTs) using carminic acid (CA) as a dispersing agent. The transmission electron microscopy (TEM), scanning electron microscopy (SEM), and atomic force microscopy (AFM) results confirmed that MWCNT is well dispersed in CA aqueous solution and CA has been well adsorbed at MWCNT walls. Fourier transform infrared (FTIR) and UV-vis absorption spectra results also confirmed the adsorption of CA at MWCNT. To develop a highly selective amperometric biosensor for H(2)O(2) and iodate, the model enzyme catalase (CAT) was immobilized at CACNT modified glassy carbon electrode surface. The immobilized CAT exhibits well defined quasi reversible redox peaks at a formal potential (E°') of -0.559V in 0.05M pH 7 phosphate buffer solution (PBS). The proposed CAT/CACNT biosensor exhibits excellent amperometric response towards H(2)O(2) and iodate in the linear concentration range between 10μM to 3.2mM and 0.01-2.16mM. The sensitivity values are 287.98μAmM(-1)cm(-2) and 0.253mAmM(-1)cm(-2), respectively. Moreover, the developed CAT biosensor exhibits high affinity for H(2)O(2) and iodate with good selectivity.