The invention provides a high module carbon fiber and a fabrication method thereof. The high module carbon fiber includes the product fabricated by the following steps: subjecting a pre-oxidized carbon fiber to a microwave assisted graphitization process, wherein the pre-oxidized carbon fiber is heated to a graphitization temperature of 1000-3000° C. for 1-30 min. Further, the high module carbon fiber has a tensile strength of between 2.0-6.5 GPa and a module of between 200-650 GPa.