This article reviews the phenomena occurring during irradiation of graphitic nanoparticles with high-energy electrons. A brief introduction to the physics of the interaction between energetic electrons and solids is given with particular emphasis on graphitic materials. Irradiation effects are discussed, starting from microscopic mechanisms that lead to structural alterations of the graphite lattice. It is shown how random displacements of the atoms and their subsequent rearrangements eventually lead to topological changes of the nanoparticles. Examples are the formation of carbon onions, morphological changes of carbon nanotubes, or the coalescence of fullerenes or nanotubes under electron irradiation. Irradiation-induced phase transformations in nanoparticles are discussed, e.g. the transformation of graphite to diamond, novel metal-carbon phases in nanocomposite materials or modified phase equilibria in metal crystals encapsulated in graphitic shells.