Results of experimental and theoretical investigations on hydrogen sorption by various carbon nanostructures, including fullerenes, single-walled and multi-walled nanotubes, nanofibers and nanographite-based composites are surveyed. Results of a thermodynamic analysis of the most significant experimental data are presented. The emphasis is placed on the studies reporting the extremum sorption parameters. The thermodynamic and kinetic (diffusion) parameters and equations describing the sorption processes are refined. The prospects of the applications of novel carbon nanomaterials for hydrogen storage in automotive industry are discussed.