The analytical method was developed to calculate efficiency of densifying carbon/carbon (C/C) composites using coal tar pitch as a matrix precursor at each cyle. Three factors were defined in analyzing the densification process: impregnation efficiency, retention efficiency, and overall densification efficiency. The relationships developed were applied to the experimental results for three densification cycles of C/C composites with pitches as an impregnant to evaluate the factors which may depend on the impregnant and on the route of carbonization. The impregnation efficiency increased with the repeated process cycles whereas the retention efficiency decreased irrespective of the impregnant and carbonization route. Carbonization route P+A+G, in which pressure carbonizationl (P) and graphitization (G) were done before after atmospheric pressure carboniztion (A) respectively, using impregnant of high carbon yields was the most effective method in densifying C/C composites.