Pyrolysis of organic wastes for biochar preparation has been proved as a useful way of waste management. However, the elevated water content of some organic wastes precludes its use without a drying step before pyrolysis treatment. For this reason, hydrothermal carbonization (HTC) of wet biomass could be an inexpensive alternative management method. The main objective of the present work is to compare the properties of biochars and hydrochars obtained from thermal treatment of pig manure. Biochars were prepared at 300 °C (BPM300), 450 °C (BPM450) and 600 °C (BPM600) and hydrochars were obtained using a pig manure solution (ratio 30:70) that was heated at 200 °C (HPM200), 220 °C (HPM220) and 240 °C (HPM240) during 2 h. Characterization of biochar and hydrochar samples showed that pyrolysis led to chars with more aromatic structures and high thermal stability while HTC process originated chars with more aliphatic structures. HPM220 and HPM240 showed the highest values of field capacity water content and available water probably due to their higher O/C ratios and the macroporosity development in the range from 200 to 30,000 nm. These results suggested that HTC could be an interesting method to obtain soil growing media or green roof materials with adequate hydrophysical properties.