Ink sticks derived from pinewood soot and lamp soot are the two most important Chinese types of ink sticks in the history of traditional ink-stick production. However, their performances in use are diffevent due to the respective physical and chemical properties of the two raw materials; therefore, it is necessary to conduct accurate determinations and analyses of the physical and chemical properties of pinewood soot and lamp soot. We systematically investigated the compositions, particle structures, dispersion states, and surface chemical properties of lamp and pinewood soot using Zeta potential measurement, X-ray photoelectron spectroscopy (XPS), temperature-programmed desorption mass spectrometry (TPD-MS), thermogravimetry (TG) and Fourier transform infrared (FTIR). The results show that pinewood soot and lamp soot not only differ in their particle sizes, degrees of graphitization and surface areas, etc., but also have large differences in their surface charges, and the types, distributions and relative contents of surface functional groups. Moreover, the relationships between the physical/chemical properties and their performances in use are discussed in terms of levels of blackness, color, gloss, permeation, layer distribution and stability. We hope that clearly defining the related physical and chemical properties and associating them with ink-stick production technology and the quality of the ink will enable us to improve traditional ink-stick production. The research results could provide a scientific basis for the making, using, identification and preservation of Chinese ink sticks.