Charcoal produced in natural fires is widespread, but surprisingly little is known about its structure and stability. TEM and electron energy loss spectroscopy (EELS) were used to characterize the organized graphite-like microcrystallites and amorphous nonorganized phases of modern charcoal that had been produced in natural fires. In addition, a semiordered structure was identified in two modern charcoal samples. Fossilized charcoal contains fewer graphite-like microcrystallites than modern samples. EELS spectra confirmed that the dominant structure in fossilized charcoal is amorphous carbon. EELS measurements also revealed that only the nonorganized phase contains oxygen, which indicates that the degradation of the fossilized charcoal structure occurs mainly through oxidation processes. The few graphite-like microcrystallites found in fossilized charcoal were composed of onion-like structures that are probably less prone to oxidation owing to their rounded structures.