DSC and TG/DTA were used to study charcoals obtained from eucalyptus wood at different pyrolysis temperatures, as well as the exchanged energy, and the transformations involved during the pyrolysis process. Charcoals DSC curves showed two exothermic peaks, at ~610 and ~750 K. The first peak was squashed for those charcoals obtained at higher final pyrolysis temperatures, and it disappeared in the charcoals obtained at 873 and 923 K. The second peak intensity increased and its location changed at the higher temperatures. Charcoal characterization showed a rise of heat values with the pyrolysis temperature.