Abstract: An improved waste rubber processing system which pyrolyzes waste rubber to produce pyrolysis oil and carbon black and then purifies and refines these end products to broaden their commercial applications and to increase their market value. The pyrolysis oil purification system of this invention produces a high quality oil which is clear and colorless and which is marketable as a plasticizer or extender oil for rubber and plastic compounding applications. The carbon black purification system mills the carbon black to a fine grade and removes oversized contaminants such as fiberglass and ferrous particles to produce a low structure furnace black. The plasticizer/extender oil is many times more valuable than the end product of conventional pyrolysis systems which is a low quality fuel oil. Similarly, the low structure furnace black is of much greater value than the low grade carbon black produced by conventional pyrolysis systems.