High-resolution transmission electron microscopy (HRTEM) has been used in this work to study the microstructural (structure and microtexture) changes occurring during the high-temperature treatment of the unburned carbon concentrates from coal combustion fly ashes. Emphasis was placed on two aspects: (i) the development of graphitic carbon structures and (ii) the disordered carbon forms remaining in the graphitized samples. In addition, by coupling HRTEM with energy-dispersive spectroscopy, the transformations with the temperature of the inorganic matter (mainly iron- and silicon-based phases) of the unburned carbon concentrates were evidenced. The HRTEM results were compared to the averaged structural order of the materials as evaluated by X-ray diffraction (XRD) and Raman spectroscopy. As indicated by XRD and Raman parameters, more-ordered materials were obtained from the unburned carbon concentrates with higher mineral/inorganic matter, thus inferring the catalytic effect of some of their components. However, the average character of the information provided by these instrumental techniques seems to be inconclusive in discriminating between carbon structures with different degrees of order (stricto sensu graphite, graphitic, turbostratic, etc.) in a given graphitized unburned carbon. Unlike XRD and Raman, HRTEM is a useful tool for imaging directly the profile of the polyaromatic layers (graphene planes), thus allowing the sample heterogeneity to be looked at, specifically the presence of disordered carbon phases.