The invention discloses a new process for purifying and manufacturing a microcrystalline graphite product, which comprises the following steps: adding calcined lime and water into graphite ore of which the grinding fineness is -200 meshes and the pass rate is above 90 percent after fine grinding, stirring uniformly and making pH of graphite ore slurry containing the calcined lime above 9; adding water glass to stir, adding kerosene to stir, finally adding pine oil to stir, inflating and scraping to perform rough concentration, and collecting roughly concentrated fine ore and tail ore of graphite; adding water glass into the roughly concentrated fine ore to stir, adding kerosene to stir, adding pine oil to stir, inflating and scraping to perform primary fine concentration, and collecting finely concentrated fine ore; adding water glass into the primarily finely concentrated fine ore to stir, adding kerosene to stir, adding pine oil to stir, inflating and scraping to perform secondary fine concentration, and collecting flotation graphite fine ore; adding NaOH solution into the flotation graphite fine ore for mixing, roasting, washing with water to neutral, performing acid leaching with hydrochloric acid, washing with water, dewatering and drying to obtain a high-carbon graphite product with the fixed carbon content in the graphite up to 98.74 percent.