The influence of polymerization with formaldehyde on the thermal reactivity of a low-temperature coal tar pitch has been investigated. The mechanism and extent of the polymerization depends on the catalyst used, the greatest extent of polymerization being achieved under basic catalytic conditions. After the polymerization treatment, samples were carbonized at 420 degrees C and the products were characterized by optical microscopy. According to the results, polymerization with formaldehyde increases the reactivity of the pitch, giving rise to increased carbonization yields and leading to the formation of the mesophase with milder conditions. The polymerization process also affects the morphology of the resultant anisotropic material, giving rise to the formation of irregularly shaped mesophase particles and reducing the optical texture size of the anisotropic domains, giving mosaic texture, especially when basic catalysis is used.