In a process for producing an optically anisotropic carbonaceous pitch having a low softening point for the production of carbon material starting oil to be used is a tar-like substance which is a mixture of compounds not substantially containing chloroform insolubles but containing components having a boiling point of 540.degree. C. or more as principal components and consisting principally of carbon and hydrogen. The tar-like substance has a content of n-heptane insolubles of up to 1 wt % and contains an aromatic oil fraction and a resin fraction as the principal components of n-heptane soluble components. The aromatic carbon fraction, fa, is at least 0.7, the number-average molecular weight is up to 1,000 and the maximum molecular weight is up to 2,000 for each of the aromatic oil and resin fractions.