Creating and executing the following REG file to solve the problem:
Windows Registry Editor Version 5.00 [HKEY_CURRENT_USER\Software\Python] [HKEY_CURRENT_USER\Software\Python\Pythoncore] [HKEY_CURRENT_USER\Software\Python\Pythoncore\2.6] [HKEY_CURRENT_USER\Software\Python\Pythoncore\2.6\InstallPath] @="C:\\Python26\\ArcGIS10.0" [HKEY_CURRENT_USER\Software\Python\Pythoncore\2.6\PythonPath] @="C:\\Python26\\ArcGIS10.0;C:\\Python26\\ArcGIS10.0\\Lib\\;C:\\Python26\\ArcGIS10.0\\DLLs\\"
References: