Through an activation reaction sintering method, porous (Mo2/3Y1/3)2AlC ceramics were prepared by Mo, Y, Al, and graphite powders as raw materials. The phase composition, microstructure, element distribution, and pore structure characteristics were comprehensively studied using X-ray diffraction (XRD), scanning electron microscopy (SEM), energy-dispersive spectroscopy (EDS), Archimedes method, and bubble point method. A detailed investigation was conducted on the influence of sintering temperature on the phase composition. Possible routes of phase transition and pore formation mechanisms during the sintering process were provided. The experimental results reveal that at 650-850 °C, transition metals react with aluminum, forming aluminum-containing intermetallics and a small amount of carbides. At 850-1250 °C, transition metals collaborate with graphite, producing transition metal carbides. Then, at 1250-1450 °C, these aluminum intermetallics interact with transition metal carbides and remaining unreacted Y, Al, and C, yielding the final product (Mo2/3Y1/3) 2AlC. Simultaneously, the pore structure alters correspondingly with the solid-phase reaction at different reaction temperatures.