Matrix microstructure of a pitch-based carbon-carbon composite was controlled by an iodine treatment. Coal-tar pitch having the softening point of 101 °C was used as a matrix precursor. The iodine treatment was carried out on a pitch-impregnated specimen at 90 °C for 3–20 h. The specimen was carbonized at 800 °C and graphitized at 2000–3000 °C. The carbon yield increased from 73% to 93% by the iodine treatment. Microstructures of carbonized specimens changed from a flow type texture to a mosaic type one by the iodine treatment. The microstructural development to graphitic structure was suppressed by the iodine treatment.