Morphology, composition, and fluorescence properties of anodic alumina/carbon composites formed in an aqueous solution of formic acid with ammonium heptamolybdate additive were studied concerning the amount and state of embedded carbon. According to scanning electron microscopy, the composites possess a hierarchical structure with multi-branched pores with a dense, cracked cover layer on the film surface. On the reverse side, hexagonal-shaped cells with an average diameter of about 180 nm were formed. Linear sweep voltammetry and current transient curves demonstrated that the anodizing process is non-steady. Thermogravimetry/differential thermal analysis showed that the average carbon content is ca. 5.5 mass.%. According to infrared spectroscopy, carbon embedded in the alumina is in the form of CO2, CO, carboxylate ions, and a-C:H. X-ray-induced Auger electron spectroscopy of the surface and reverse sides of the films proved that carbon is homogeneously distributed through the oxide layer. According to fluorescence studies, alumina/carbon composites have a wide blue fluorescence in the wavelength range of 350–700 nm with a maximum at around 455–460 nm. The fluorescence spectrum dynamics is non-exponential and can be described as a superposition of several decay components. These can be different carbon-containing compounds and functional groups, such as OH, C=O, and COOH.