The manufacture of high mechanical strength cellulose‐based carbon fibers (CFs) is accomplished in a continuous process at comparably low temperatures and with high carbon yields. Applying a sulfur‐based carbonization agent, i.e., ammonium tosylate (ATS), carbon yields of 37% (83% of theory), and maximum tensile strengths and Young's moduli up to 2.0 and 84 GPa are obtained already at 1400 °C. For comparison, the use of the well‐known carbonization aid ammonium dihydrogenphosphate ((NH4)H2PO4), ADHP, is also investigated. Both the precursor and the CFs are characterized via elemental analysis, wide‐angle X‐ray scattering, Raman spectroscopy, scanning electron microscopy, and tensile testing. Thermogravimetric analysis coupled with mass spectrometry/infrared spectroscopy discloses differences in structure formation between ATS and ADHP‐derived CFs during pyrolysis.