Carbon formation from organic precursors is an energy-consuming process that often requires the heating of a precursor in an oven at elevated temperature. In this paper, we present a conceptually different synthesis pathway for functional carbon materials based on hypergolic mixtures, i.e., mixtures that spontaneously ignite at ambient conditions once its ingredients contact each other. The reactions involved in such mixtures are highly exothermic, giving-off sizeable amounts of energy; hence, no any external heat source is required for carbonization, thus making the whole process more energy-liberating than energy-consuming. The hypergolic mixtures described here contain a combustible organic solid, such as nitrile rubber or a hydrazide derivative, and fuming nitric acid (100% HNO3) as a strong oxidizer. In the case of the nitrile rubber, carbon nanosheets are obtained, whereas in the case of the hydrazide derivative, photoluminescent carbon dots are formed. We also demonstrate that the energy released from these hypergolic reactions can serve as a heat source for the thermal conversion of certain triazine-based precursors into graphitic carbon nitride. Finally, certain aspects of the derived functional carbons in waste removal are also discussed.