Natural and expandable graphites were chemically treated in acidic aqueous solutions such as acetic acid or mixtures of acetic acid and nitric acid. Structures and thermal conductivities of the as-treated graphites were characterized in detail. Both graphites were significantly oxidized in the mixed acidic solution of H2SO4 and HNO3, which condition was generally used for the oxidation of carbon nanotubes. This considerable oxidation of graphites caused a depression of their thermal conductivity. The structural characteristics, obtained by XRD and XPS, show that the graphites treated in the relatively weak acidic conditions (acetic acid or mixture of acetic acid and nitric acid) were quite similar to the untreated graphites. However, the thermal conductivities of both acidic-treated graphites were remarkably increased.