The aim of the present study is to investigate the feasibility of using liquid ethanol as a precursor for carburization of MoO3. Ethanol vapor was transported by Ar flow to a MoO3 powder bed during heating to 1000 K and 1100 K and during holding at these temperatures for different times. Single-phase Mo2C was obtained at 1000 K, 1050 K, and 1100 K within isothermal reaction time of 60 min, 30 min, and 15 min, respectively, after nonisothermal heating. Mo loss was insignificant due to formation of nonvolatile MoO2. The product prepared at 1000 K exhibited porous rounded Mo2C particles, while lenticular particles were observed at 1050 K and 1100 K. The carburization process was controlled by the intrinsic chemical reaction kinetics in the temperature range studied. The thermodynamic results indicated that MoO3 was reduced and carburized by ethanol-derived gaseous species (mainly H-2, CH4, and CO). The present study demonstrates that it is feasible to use ethanol for carburization of MoO3.