Pitch-based carbon fiber, as one of the important engineering materials, has been widely used in aerospace, defense, sports, and other fields. In the long production process of pitch-based carbon fiber, the property of pitch precursor is significant for the mechanical performance of obtained carbon fiber. Thus, it is crucial to improve the property of pitch precursor by efficient means. Halogenation–dehalogenation is a newly developed method for the controllable synthesis of a pitch precursor from the molecular dimension, including fluorination–defluorination, chlorination–dechlorination, and bromination–debromination. This work reviewed the mechanism and application, as well as the advantages and disadvantages of each halogenation–dehalogenation method.