We present the first demonstration of single-walled carbon nanotube transistor operation at microwave frequencies. To measure the source-drain ac current and voltage at microwave frequencies, we construct a resonant LC impedance-matching circuit at 2.6 GHz. Both semiconducting and metallic nanotubes are measured. Varying the back-gate voltage for a semiconducting nanotube at dc varies the 2.6-GHz source-drain impedance. In contrast, varying the back-gate voltage on a metallic nanotube at dc has no effect on the microwave source-drain impedance. We find the ac source-drain impedance to be different than the dc source-drain resistance, which may be due to the distributed nature of the capacitive and inductive impedance of the contacts to the nanotube.