The main purpose of this study is to investigate the thermal stability and the mechanism of thermal decomposition of Mogoin gol coal, the possibility of liquefaction by pyrolysis and thermolysis, and the possibility of enriching by heavy liquids to reduce the mineral content of coal and improve its quality. Under this purpose, the Mogoin gol coal was characterized by proximate and ultimate analysis, thermogravimetry, and investigated its thermal decomposition (thermolysis and pyrolysis). Thermogravimetric analysis was performed using Japanese HITACHI TG/DTA7300 instrument and pyrolysis investigation was carried out at different heating temperatures 200–700 °C with constant heating rate 20 °C/min for 80 min. On the basis of proximate and elemental analysis results, it has been indicated that the Mogoin gol coal is high-rank coking coal. The pyrolysis of Mogoin gol coal was studied by SNOL furnace at different heating temperatures and obtained from pyrolysis products such as hard residue, tar, pyrolytic water, and gas. From pyrolysis, the yield of pyrolysis tar (6.28 %) was highest at 700 °C. The experiment of thermal decomposition (thermolysis) was carried out in air closed autoclave at 350–450 °C and using hydrogen donor solvent (tetraline) with different mass ratios of coal and solvent (1:1.75; 1:1.5). In the thermolysis experiment, the yield of liquid product is highest with the coal-solvent ratio of 1: 1.5 at 450 °C.