A petroleum-based isotropic pitch fiber spun by melt-blown method was oxidized in air flow at various conditions. The oxidized pitch fiber obtained was tested for its infusibility and its elemental composition during the process of stabilization. The structural changes were traced by using solvent solubility, FT-IR spectroscopy, and elemental analysis. The samples showed a gradual increase in weight with increasing the oxidization temperature. The weight gain of sample oxidized at 320℃ for 10 min was about 4.5%. The concentration of the pyridine and toluene soluble fraction decreased with an increase in stabilization temperatures. The oxygen uptaken in the stabilization process converted aliphatic side chains into the carbonyl groups. As stabilization proceeded, the more ether and carboxylic acid groups were formed through the oxidations of aldehyde and primary alcohol, and then the carboxylic acid was dehydrated to be aromatic anhydride.