Carbon black has been an economical conventional reinforcing agent for a range of applications like catalysis, electrical conduction, pollutant adsorption, mechanical or optical materials. To enrich these properties, carbon black surface has been modified through either chemisorption or physisorption. This review contains latest literature to compare both these modifications in connection to particular applications, where first method despite of high yield is ineffective for thermally unstable materials, and second method despite of its effectiveness for thermally unstable materials is delicate due to easy desorption.