Modification methodologies of upgrading CBp from ELTs were reviewed. Surface microstructures and physiochemical properties of CBp were analyzed. Future perspectives of ELTs pyrolysis industries were suggested. Over 1 billion end-of-life tires (ELTs) are generating annually, and 4 billion ELTs are currently abandoned in landfills and stockpiles worldwide, according to the statistics, leading to the environmental and health risks. To circumvent these issues, pyrolysis, as an attractive thermochemical process, has been addressed to tackle the ELTs’ problem to reduce the risks as well as increase the material recycling. However, due to the lack of systematic characteristic analysis and modification methods, poor quality of CBp limits the improvement of ELTs pyrolysis in industry applications, which plays a crucial role in the economic feasibility of pyrolysis process. In this review, we have summarized the state-of-the-art characteristics and modification methodologies of the upgrading of CBp, to in-depth understand the surface microstructures and physiochemical properties of CBp for the foundation for modification afterwards. By virtue of the proper selection of modification methods and modifying agents, the new generation of multifunctional carbon materials with desired properties can be instead of the traditional materials of CB, promising broader and various application fields.