In view of the problems faced by a conventional moving bed coal pyrolysis process, such as the inability to deal with pulverized coal, low light tar yield, poor tar quality, etc., a moving bed pyrolysis process with baffled internals was developed to control heat and mass transfer of the gas-solid two-phase and the pyrolysis reaction process. The multi-stage gas gathering system can collect the oil and gas products released in different pyrolysis stages of coal in time. The pyrolysis behavior and product quality of Naomaohu coal at different temperatures and residence times were investigated. The results show that the baffle internals enhance heat and volatile matter transfer among particles, enabling it to process 0.4–6.0 mm pulverized coal. When pyrolysis temperature is 550°C and residence time is 3.0h, the pyrolysis tar yield reaches the highest 11.38%, which is 86.87% of the Gray-King assay yield, and the mass fraction of light components below 360°C in the tar fraction is 85.0%. With the extension of the residence time, the H2 volume fraction in the pyrolysis gas increases from 22.1% to 35.1%, and the CO volume fraction increases from 8.0% to 9.5%. Tar yield in the first and second layer reactors increases with increasing residence time, and the tar yield in the third and fourth layer reactors isobtained when the residence time is 2.0 h. As the number of beds increases, content of light components in the tar simulated distillation fraction increases; content of tar aliphatic hydrocarbon compounds decreases, and that of monocyclic aromatic hydrocarbons and bicyclic aromatic hydrocarbons gradually increases. Based on the above results, it provides technical support for large-scale industrial processing of small particle size pulverized coal, and preparation of higher yield and quality tar.