Carbon containing materials were produced from carbonaceous char synthesized from spent lubricating oil and fuels (CC–SL) and carbonaceous char synthesized from oil sludges (CC–OS) via pyrolysis at 450 °C for 60 min under a nitrogen atmosphere to prevent oxidation. The obtained materials were characterized by scanning electron microscopy (SEM), energy-dispersive X-ray spectroscopy (EDX), fourier transform infrared spectroscopy (FTIR), and thermogravimetric analysis (TGA)/differential scanning calorimetry (DSC). CC–SL showed a high carbon content with minimal mineral impurities, whereas CC–OS contained substantial inorganic residues. The applicability of CC–SL as a functional additive in bitumen was experimentally demonstrated: incorporation of 0.2–0.4 wt.% carbonaceous char with 1.5 wt.% Elvaloy polymer increased the softening point from 49 °C to 56 °C and decreased penetration from 83 to 67 (0.1 mm), indicating improved stiffness and thermal stability suitable for high-load pavement applications. Overall, controlled pyrolysis of carbon-containing wastes enables the production of value-added carbonaceous char materials, linking feedstock composition, structural features, and functional performance. These findings demonstrate a sustainable pathway for valorizing petroleum industry wastes into functional materials for asphalt modification, composites, and environmental applications, emphasizing both scientific novelty and practical relevance.