Fermentation often degrades the cell wall of dark tea, changes the carbohydrate components in the cell wall of tea, and thus affects the quality of tea. However, the lack of ultrastructural details limits our knowledge on the effect of fermentation on tea cell walls. Morphological studies of cell structures are important; thus, the cell wall of Liupao tea was analyzed under transmission electron microscopy for the first time, and the effects of different raw materials and fermentation methods on the cell wall and main carbohydrates of tea were compared. Overall, fermentation degrades the cell wall of Liupao tea under the action of microorganisms. Interestingly, the middle lamella degrades obviously, whereas the primary wall is complete. The decrease in hemicellulose and increase in water-soluble pectin (WSP) were remarkable, whereas the changes in cellulose and WSP were considerably correlated with the increase in tea polysaccharide (TPS). The results suggest that cell wall degradation might be related to the increase in TPS.