Microwave-assisted synthesis and processing represents a growing field in materials research and successfully entered the field of carbon nanomaterials during the last decade. Due to the strong interaction of carbon materials with microwave radiation, fast heating rates and localized heating can be achieved. These features enable the acceleration of reaction processes, as well as the formation of nanostructures with special morphologies. A comprehensive overview is provided here on the possibilities and achievements in the field of carbon-nanomaterial research when using microwave-based heating approaches. This includes the synthesis and processing of carbon nanotubes and fibers, graphene materials, carbon nanoparticles, and capsules, as well as porous carbon materials. Additionally, the principles of microwave-heating, in particular of carbon materials, are introduced and important issues, i.e., safety and reproducibility, are discussed.