We report the observation of an ultrafast (~ 430 fs) charge transfer process at the interface between a single-walled carbon nanotube (SWNT) wrapped by a semi-conducting polymer, poly(3-hexylthiophene) (P3HT), creating free polarons on both materials. The addition of excess P3HT as a surrounding network allows these free polarons to be long-lived at room temperature. Our results suggest that SWNT-P3HT blends incorporating only 1% fractions of SWNTs can achieve a charge separation efficiency comparable to a conventional 60:40 P3HT-fullerene blend, provided small-diameter tubes are embedded in an excess P3HT matrix.