Water-soluble nanocomposites based on CdSe/ZnS quantum dots (QDs) and hydrophobic tetraphenylporphyrin (TPP) molecules passivated by chitosan (CS) have been formed. Magnetic circular dichroism (MCD) spectra evidence TPP presence in both monomeric and agglomerated forms in the nanocomposites. The nanocomposites demonstrate more pronounced singlet oxygen generation in comparison with free TPP in CS at the same concentration due to intracomplex Forster resonance energy transfer (FRET) with 45 % average efficiency.