The degradation and aging of carbon felt electrodes is a main reason for the performance loss of Vanadium Redox Flow Batteries over extended operation time. In this study, the chemical mechanisms for carbon electrode degradation are investigated and distinct differences in the degradation mechanisms on positive and negative electrodes have been revealed. A combination of surface analysis techniques such as X-ray photoelectron spectroscopy (XPS), Raman spectroscopy, and Electrochemical Impedance Spectroscopy (EIS) was applied for this purpose. In addition to understanding the chemical and physical alterations of the aged electrodes, a thermal method for reactivating aged electrodes was developed. The reactivation process was successfully applied on artificially aged electrodes as well as on electrodes from a real-world industrial vanadium redox flow battery system. The aforementioned analysis methods provided insight and understanding into the chemical mechanisms of the reactivation procedure. By applying the reactivation method, the lifetime of vanadium redox flow batteries can be significantly extended.