Needle coke is widely used in the production of ultra-high power electrodes, special carbon materials, carbon fibers, and their composites. How to prepare needle coke with excellent performance through directional adjusting of raw material components is a hot research topic. In this paper, coal tar pitch (CTP) was extracted from low-temperature coal tar (Low-coal tar). To further increase the content of quinoline-soluble, CTP was modified by formaldehyde via chemical polymerization. By adjusting the blending ratio of hexane-insoluble toluene-soluble (HI-TS) and toluene-insoluble tetrahydrofuran-soluble (TI-AS) obtained by modified coal tar pitch (HCTP) separation adopting solvent extraction, a series of green needle coke and needle coke were prepared. The physicochemical structures were analyzed using FTIR, TG, Py-GC/MS, XRD, PM, and SEM, and the electrochemical properties were evaluated and analyzed. The results show that the Lc and La of green needle coke and needle coke firstly increase and then decrease with the decrease of TI-AS content, while the ID/IG demonstrated the opposite tendency. When the content of TI-AS is 16.67%, it is favorable to improve the micro-morphology of needle coke and increase the content of the ideal graphite lattice (from 24.47% to 31.88%) and needle coke yield (44.03%). In this paper, the composition distribution of CTP was adjusted, and the effect of the blending ratio of HI-TS and TI-AS on the structure of green needle coke and needle coke was investigated, improving the added value of Low-coal tar and providing data reference for the directional regulation of needle coke.