Fullerenes are proposed as a precursor for preparation of nanocarbon materials using controlled collapse of cage structure by high temperature reaction with polycyclic aromatic hydrocarbons. The chemical modification of C 60 by reaction with anthracene and coronene was studied over a broad temperature interval. The products of the reaction were characterized by X-ray diffraction, and Raman and IR spectroscopy. Mono- and multi-adducts of C 60 with anthracene were obtained in the temperature interval 290–400°C. Above 400°C the C 60 adducts are not stable and decompose back to C 60 and anthracene. No chemical adducts of C 60 with coronene were found below 500°C. Above this temperature fullerite structure was found to expand reflecting interaction with coronene melt and vapor. The reactions of C 60 with anthracene and C 60 with coronene at temperatures above 650°C resulted in fullerene cage collapse and formation of nanocarbons. These nanocarbons were found to store up to 0.45wt% of hydrogen at ambient temperatures despite negligible surface area.