It was pointed out that one of the causes of recent failure to launch rocket was due to the fracture of nozzle throat insert made of graphite materials. The relationship between mechanical properties and microfracture process in graphite was not enough analyzed. To ensure the reliability of such aerospace equipment, we considered the necessity of assurance by non-destructive evaluation, evaluation of mechanical property for graphite material and design based on fracture probability. In this study, four-point bending test and fracture toughness test were used to evaluate mechanical properties. Mean strength, Weibull parameters, and R-curve for crack propagation were estimated. AE measurement during tests was performed in order to obtain location and stress of microfracture. AE results were analyzed by stochastic process theory. The result of AE demonstrates that microfracture process during bending test is divided into three stages. AE behavior in fracture toughness test was also closely related to crack propagation.