The stagnant water above the coal seam flows into the goaf, causing the goaf coal to be soaked by water for a long time. Compared with dry raw coal, water-soaked coal has a stronger tendency for spontaneous combustion, which poses a serious threat to mining operators. To unravel the impact of water immersion on coal's self-heating properties, an investigation was conducted employing techniques such as simultaneous thermogravimetric analysis/differential scanning calorimetry (TG/DSC), scanning electron microscopy (SEM), low-temperature nitrogen adsorption based on the BET theory, and Fourier transform infrared spectroscopy (FTIR). The variations in the characteristic temperature, microphysical structure, and active functional groups of bituminous coal with water immersion degrees of 10, 30, 50, and 100% were studied, and the experimental results showed that (1) during the initial stage of coal self-ignition oxidation, moisture can cause a delay in the characteristic temperature points of bituminous coal. When the degree of water saturation in bituminous coal reaches 100%, both the critical temperature (T 1 ) and the cracking temperature (T 2 ) peak at 48.14 and 205.06 °C, respectively. However, after the water evaporation phase is complete, water soaking promotes the spontaneous combustion of bituminous coal. (2) The number of pores and fractures in bituminous coal is positively correlated with the amount of water soaked, with the average pore diameter increasing from 10.124 nm in raw coal to 15.547 nm in the A 4 coal sample. Moreover, when the degree of water immersion reaches 100%, the proportion of mesopores and macropores increases to 38.89 and 19.95%, respectively. (3) Compared to untreated coal, the number of functional groups in watersoaked coal samples increases. With the increase in water immersion, the hydroxyl (−OH) content of raw coal and four kinds of bituminous coal with different degrees of immersion was 40.8, 41.3, 42, 43.9, and 42.9%, respectively, showing a trend of increasing first and then decreasing. When the degree of water immersion of bituminous coal is 50%, the natural tendency is the strongest. These findings contribute to elucidating the underlying mechanism of water immersion's impact on coal self-ignition, thereby holding significant implications for enhancing fire safety measures in mine working areas.