This study explored the feasibility of using coking wastewater and coal pitch powder to make coal pitch wastewater slurry. The medium temperature coal tar pitch powder was prepared by freezing and pulverizing coal tar pitch. The dispersant, JL-C01 medium-breaking emulsifier, had a large adsorption value on the coal pitch surface. At the same time, the Zeta potential on the coal pitch having added dispersant had a big increase. On the basics of that, putting some dispersants and wastewater into the powder under high speed stirring, the coal pitch wastewater slurry was obtained. The slurryability, rheological behavior, and static stability of coal pitch wastewater slurry were investigated at different dispersant dosages and slurry concentrations. The results showed that the apparent viscosity decreased with increasing the shearing rate. The rheological behavior of the slurry exhibited pseudo-plasticity. The biggest slurryability could be up to 70%. When the slurry concentration was 70%, the slurry could be kept for 28 d. At last, considering the test methods for quality of coal water mixture, the combustion analysis of the slurry was carried out and many indexes accorded with the national standard. The low heat value, the ash content, and the volatile matter met the coal water slurry first grade standard, and the sulfur content met the second grade standard.