Abstract: The optical properties of single-wall carbon nanotube sheets in the far-infrared have been investigated with THz time-domain spectroscopy. Over a wide frequency range from 1 THz to 40 THz, the complex dielectric function of the nanotube sample has been derived. Our data can be excellently reproduced by a Drude-Lorentz model function. The extracted fit parameters such as Lorentz resonance frequency and plasma frequency are consistent with values obtained by scanning tunneling techniques. We discuss the origin of both the Lorentz and Drude contribution in terms of direct and indirect optical transitions.