Pulverized coal injected into a blast furnace (BF) burns incompletely in a very limited amount of time. A considerable amount of unburned pulverized coal (UPC) escapes from the raceway to the coke layer. The unburned pulverized coal reacts with CO 2 in the coke layer, and this has a very significant impact on the operation of the BF. The gasification reaction characteristics of the UPC with CO 2 were assessed by thermogravimetric analysis. The microstructure and specific surface area of the pulverized coal and UPC were characterized by scanning electron microscopy (SEM), and a specific surface area testing apparatus together with the Brunauer-Emmett-Teller (BET) method, respectively. The results showed that Qingding UPC requires a higher temperature to complete the gasification reaction. At the same heating rate, the T m (maximum reaction rate temperature) of the Shenhua UPC is much lower and the reaction rate is larger than those of the Qingding UPC. An increased heating rate is beneficial for the gasification reaction of the two UPCs. The kinetics analysis results showed that the optimal mechanism function models for the Shenhua and Qingding UPCs are chemical reaction models. The apparent activation energies of gasification of the Shenhua UPC and Qingding UPC under different conditions were 269.89–223.41 KJ/mol and 266.70–251.54 KJ/mol, respectively.