Thermal and electrical conductivities of the natural, artificial, and expandable graphites were analyzed after treatment in NaOH aqueous solution. In order to investigate the elimination of the oxidized groups and impurities on the graphite surfaces after NaOH treatment, the graphite samples were structurally characterized by using XRD, XPS, Raman, FE-SEM. The thermal and electrical conductivities of the graphite samples were significantly improved after NaOH treatment. These results were caused by the structural rehabiliation.