Piezoinductance (the influence of stress/strain on the inductance) enables inductance-based structural self-sensing and inductance-based investigation of the microstructural effect of loading. The first report of piezoinductance in a carbon material is provided. The piezoinductance of a carbon fiber tow (12K) involves the inductance increasing upon tension. The stress is in the low range of the elastic regime (2.17–10.83 MPa). The piezoinductance is attributed to the tightening of the fiber-fiber contacts in the tow upon tension. The partial nature of the reversibility of the inductance increase means that the tightening is not completely reversible upon unloading. Twisting enhances the inductance (as previously reported by the present authors), because the number of fiber-fiber contact points increases. Twisting strengthens the piezoinductance, with the effect being due to the abovementioned tightening. An increase in either the frequency (1–5 kHz) or voltage (0.9–5.0 V) enhances the inductance, but weakens the piezoinductance. The latter is probably due to the effect of the abovementioned tightening on the inductance being diminished by an increase in the frequency or voltage. Tension reduces the number of fiber-fiber contact points and reduces the effect of twisting on the inductance. Upon combined tension and twisting, the inductance increases, such that the fractional increase in inductance is below that for twisting without tension, but above that for tension without twisting.