A commercial impregnating coal-tar pitch was thermally treated at 430°C for 2–5 h in nitrogen. Resultant pitches, which contained mesophase ranging from 10 to 46 vol.%, were filtered to separate the isotropic phases, in order to study their contribution to the rheology of the whole pitches. The parent pitch, thermally treated pitches and the individual isotropic phases were characterized by measuring their elemental composition, softening point, carbon yield, solubility in toluene and in N-methyl-2-pyrrolidone, mesophase content (by optical microscopy) and X-ray diffraction parameters. The rheological behavior of the pitches and the isotropic phases was studied using steady shear rheometry. Results showed that not only had the whole pitches, which were partially anisotropic, a non-Newtonian behavior, but also the single isotropic phases.