the present invention relates to a high elongation , high strength pitch - type carbon fiber which has an improved handleability . the carbon fiber of this invention has a crystalline structure arranged in such a manner that the angle is 24 °- 38 °; the stack height is 19 - 35 å ; and , the interlayer spacing of the x - ray structural parameter is 3 . 45 - 3 . 50 å . the atomic ratio of oxygen to carbon on the surface of the fiber measured by x - ray photoelectron spectrometry is 0 . 1 - 0 . 35 . the total oxygen content in the fiber is 0 . 01 - 0 . 2 wt . %; and , the elongation is 1 . 0 % or more . the high elongation , high strength pitch - type carbon fiber prepared in accordance with the present invention can be used , for example , as a reinforcing fiber for light - weight structural material employed in the aerospace , automotive and architectural industries .