A vitrinite‐rich low rank coal (BSR) with high alkali and alkaline metal species contents from China was treated by hydrothermal treatment over a temperature range of 200°C to 300°C. The transformation in physicochemical structure was investigated. The pyrolysis behaviors and product distribution were discussed. Meanwhile, the effect of inorganic elements derived from hydrothermal liquid waste on coal pyrolysis was also explored. The results show that after hydrothermal treatment, some inorganic elements (e.g., Na and Cl) as well as the equilibrium moisture decreased significantly. A time/temperature delay effect for the decomposition of newly formed carboxyl acids from ion exchange of carboxylates is revealed. With the increasing treatment temperature, atomic ratio of O/C decreases gradually, whereas H/C shows a trend of first increasing below 240°C and then decreasing. The pyrolysis activation energy increases from 38.51 kJ mol−1 of BSR to 52.01 kJ mol−1 of sample treated at 300°C. Hydrothermal treatment with temperature below 260°C could promote tar yield by fixed‐bed pyrolysis, while not by Gray–King assay. Furthermore, the inorganic elements in hydrothermal liquid waste increased the pyrolysis activation energy and resulted in lower tar yield and higher gas yield. Compare with char from BSR, mean pore size of chars from treated coals increased, and corresponding specific surface area decreased dramatically.