As received cenospheres obtained from Rihand Super Thermal Power Plant, Uttar Pradesh,India, were processed using sink float method. The solvent system consisted of 1% TEALS (Triethanolamine lauryl sulphate) in acetone. Further flotation of the float with the same solvent system led to another float. Various fractions thus obtained were characterized in respect of their chemical, mineralogical, and morphological properties. The float obtained from second flotation was richer in cenospheres, which are round and within a small size range. The residues obtained were broken spheres. Phase-mineralogical analysis has revealed mullite enrichment in the floats. Chemical composition of the various fractions does not indicate high concentration of harmful elements. SEM analysis leads to the conclusion that the cenospheres are essentially open-pore type. Based on such experimental observations, various potential uses have been suggested.