The direct electrochemistry of cholesterol oxidase (ChOx) was achieved on the surface of graphite electrode by immobilizing positively charged ChOx and negatively charged multi walled carbon nanotubes through electrostatic interaction using layer-by-layer technique. Two sets of well defined redox peaks were observed in cyclic voltammogram of the modified graphite electrode in phosphate buffer solution of pH 7. These peaks are corresponding to direct electron transfer of FAD/FADH₂ of ChOx and carboxylic groups of multi walled nanotubes. The modified electrode is characterized using cyclic voltammetry and electrochemical impedance spectroscopy. ChOx modified electrode was used for the determination of cholesterol. The reduction current of oxygen at the modified electrode decreases linearly with the addition of cholesterol in the concentration range of 0.2–1 mM with the lower detection limit of 30 X 10^-6 M. Some common interferents like glucose, ascorbic acid, uric acid and acetaminophen did not cause any interference due to the use of a low operating potential.