A porous carbon sheet having excellent physical properties is obtained by dispersing oxidized pitch fibers in a liquid containing at least one wetting agent having at least one hydroxyl group and a boiling point of not less than 150.degree. C, subsequently shaping the resultant dispersion in the form of a sheet, heating the sheet thus obtained at temperatures in the range of from 50 to 300.degree. C and thereafter, carbonizing the sheet in a nonoxidizing atmosphere. The oxidized pitch fibers contain 45 - 90% by weight of nitrobenzene insolubles and 55 - 90% by weight of fixed carbon and will not flow through a nozzle of 1 mm in diameter under a load of 10 Kg/cm.sup.2 at temperatures of not more than 300.degree. C. The pitch fiber has a diameter in the range of 5 to 100 .mu. and a fiber length/fiber diameter ratio of not less than 2.