In 4H-SiC semiconductors, carbon vacancies act as traps, which limit the carrier lifetime. During high-temperature treatment of 4H-SiC, the concentration of carbon vacancies can be increased or decreased by several atomistic processes, including the diffusion of carbon vacancies and carbon self-interstitials, and the thermal generation–recombination of defects. In this work, an analytic process model has been developed and calibrated against a collection of measured data. The model describes the concentration of carbon vacancies after thermal processing for a wider range of process conditions than previous works. For inert annealings, bulk recombination, bulk generation, and diffusion of carbon vacancies and carbon interstitials play a critical role. For oxidation processes, carbon interstitials are injected at the oxidizing surface. The injection rate of carbon interstitials at the oxidizing surface and their diffusivity from the surface into the bulk govern the reduction of carbon vacancies via bulk recombination. Basic properties of carbon vacancies and carbon self-interstitials in 4H-SiC, such as the thermal equilibrium concentrations, diffusivities, and bulk recombination rates, are reflected by model parameters and have been determined by model calibration for the temperature range of 1150–1950 °C. High-quality epitaxial films and low-quality substrates are described consistently, when assuming that carbon interstitials can be trapped by defects present only in the substrate.