Abstract: Disclosed is a carbon electrode having low polarizability, comprising a porous carbon block and, contained in the pores thereof, a metal fluoride mixture composed of LiF and a metal fluoride other than LiF. This carbon electrode can easily be obtained by a skillful impregnation method. When such a carbon electrode is used as an anode in electrolyzing an electrolyte comprising a mixed molten salt system of potassium fluoride and hydrogen fluoride in an electrolytic cell, polarization of the anode is extremely low and the anode effect is remarkably suppressed so that the electrolysis can stably be performed while exhibiting not only a high anodic current density but also a low voltage.