To exploit the reinforcement potential of the fibers in advanced composites, it is necessary to reach a deeper understanding on the interrelations between fiber surface chemical and energetic characteristics, wetting properties, and mechanical performance. In this study CF/EP was chosen as a model thermoset composite material, whereby a hot-curing epoxy (EP) system served as the matrix. The fibers selected were PAN-based high-tenacity carbon fibers (CF) of varying surface treatment level and/or coating. Surface free energies for the carbon fibers were determined by dynamic contact angle measurements in a variety of test liquids of known polar and dispersive surface tension utilizing a micro-Wilhelmy wetting balance and following the methods proposed by Zisman and Owens and Wendt, respectively. Surface treatment resulted in an increase of the polar fraction of the fiber surface free energy, whereas its dispersive part remained unaffected. The interfacial shear strength (IFSS) as determined in the microdroplet pull-off test was enhanced both by intensification of the surface treatment and sizing the CF with an EP component. A linear relationship between IFSS and the polar fraction of the fiber surface free energy gamma(s)(upsilon) was found. Further attempts were made to find correlations between surface free energy of the CF and laminate strengths measured in shear and transverse tension.