We observed highly efficient generation of electron-hole pairs due to impact excitation in single-walled carbon nanotube p-n junction photodiodes. Optical excitation into the second electronic subband E22 leads to striking photocurrent steps in the device I-VSD characteristics that occur at voltage intervals of the band-gap energy EGAP/e. Spatially and spectrally resolved photocurrent combined with temperature-dependent studies suggest that these steps result from efficient generation of multiple electron-hole pairs from a single hot E22 carrier. This process is both of fundamental interest and relevant for applications in future ultra-efficient photovoltaic devices.