It is strongly desired for coal-fired power plants to utilize not only low-rank coals with high moisture contents, but also lowering cost with diversifying fuel sources. In this study, combustion characteristics of low rank coal with high moisture, and standard pulverized coals are experimentally investigated using TGA (Thermogravimetric Analysis) and DTF (drop tube furnace). The coals tested are three kinds of coal with moisture content ranging from 8.32 to 26.82%. The results show that under the air combustion condition, the burn-out time at TGA rises as moisture content increases, and standard pulverized coal with 8.32% moisture content showed the lowest activation energy of 55.73 kJ/mol. In case of the high amount of moisture, the combustion efficiency decreases due to evaporation heat loss, and unburned carbon in ash produced at combustion process in DTF increased. Aslo, initial deformation temperature of slag attached in alumina tube of DTF decreased with lowering the crytallinity of anorthite and augite. To improve the combustion reactivity and efficiency, it is effective to upgrade through drying the high moisture coal to moisture level (less than 10%) of standard pulverized coal.