As a high-valent iron compound with Fe in the highest accessible oxidation state, ferrate(VI) brings unique opportunities for a number of areas where chemical oxidation is essential. Recently, it is emerging as a novel oxidizing agent for materials chemistry, especially for the oxidation of carbon materials. However, the reported reactivity in liquid phase (H2SO4 medium) is confusing, which ranges from aggressive to moderate, and even incompetent. Meanwhile, the solid-state reactivity underlying the “dry” chemistry of ferrate(VI) remains poorly understood. Herein, we scrutinize the reactivity of K2FeO4 using fullerene C60 and various nanocarbons as substrates. The results unravel a modest reactivity in liquid phase that only oxidizes the active defects on carbon surface and a powerful oxidizing ability in solid state that can open the inert C=C bonds in carbon lattice. We also discuss respective benefit and limitation of the wet and dry approaches. Our work provides a rational understanding on the oxidizing ability of ferrate(VI) and can guide its application in functionalization/transformation of carbons and also other kinds of materials.[Figure not available: see fulltext.].