Abstract: China's microcrystalline graphite has been occupying an important position in the international microcrystalline graphite market because of the advantages of high grade and good quality. However, due to the lack of long−term theoretical research and capital investment, China's microcrystalline graphite deep−processing technology in the relevant fields is still relatively blank, which leads to most of the domestic graphite mining company still stays in the microcrystalline graphite ore direct utilization or primary processing of raw ore into low value−added products for sale stage. And in recent years, microcrystalline graphite in lithium−ion battery anode materials and anisotropic graphite materials and other areas of application potential mining has also made it receive more and more attention. Therefore, how to protect and scientifically utilize microcrystalline graphite as a valuable resource has become an urgent problem to be solved nowadays. This paper takes the structure, properties and resource distribution of graphite as a starting point. It reviews the principles and characteristics of various purification methods of microcrystalline graphite, and introduces the research status of various purification methods in turn, in addition to the research of microcrystalline graphite in the application of lithium−ion battery anode materials and isotropic graphite materials. Taking the structure, properties and resource distribution of graphite as a starting point, this paper reviews the principles and characteristics of various purification methods of microcrystalline graphite, and outlines the research status of various purification methods. In addition, the research on the application of microcrystalline graphite in anode materials for lithium−ion batteries and isotropic graphite materials is also introduced. Finally, it is pointed out that the purification and modification of microcrystalline graphite is the key to realize the deep processing of microcrystalline graphite to prepare high value−added products.