The process of thermal dissolution of medium metamorphosed coals in anthracene oil to produce an alternative pitch binder was studied. The process was carried out at temperatures from 350 to 400°C and pressure not higher than 2.5 MPa, without the use of hydrogen and catalysts. It was determined that during thermal dissolution hard coal of gaseous-fat grade demonstrated a higher activity compared with less metamorphosed gaseous coal. Under optimal conditions at a temperature of 350-380°C yields of pitch tar containing product are 63-75%. With regard to their composition and the main technical characteristics the isolated pitches are at the level in the middle between the coal-tar and oil pitches. Based on the yield data analysis, technical and environmental characteristics of the isolated pitch products a conclusion was made on the prospects of thermal dissolution process as an alternative method for preparing extractive pitch-a substitute for coal-tar pitch produced by coking process.