To achieve lower price and high performance of pitch carbon fiber, coal tar pitch has to restructure through high-purity process, thermal and acid treatment process, and separation process. Thermal treatment and different oxidation treatments were used to increase the softening point and yield of the precursor pitch for carbon fiber. These treatments have the effect on the properties of carbon fiber because they cause considerable change in the chemical composition of pitches. Low molecular weight materials could be removed by the thermal treatment. The oxygen containing structure formed by the acid treatments would promote the poly-condensation and polymerization reactions. The oxidation treatment with sulfuric acid, nitric acid, and air blowing would lead to the remarkable change in the chemical composition of pitches, and resulted in considerable increase in the softening point and yield of the pitches.