A method of producing a graphite-containing refractory within which carbon fiber bundles are placed, the graphite constituting 1% to 80% by mass, the method including a bundling step of bundling carbon fibers to form the carbon fiber bundles; a mixing step of mixing a refractory raw material with graphite to prepare a graphite-containing refractory raw material; a pressing step of pressing the graphite-containing refractory raw material in which the carbon fiber bundles are placed to prepare a formed product; and a drying step of drying the pressed product, wherein the bundling step includes bundling 1000 to 300000 of the carbon fibers with a fiber diameter of 1 to 45 μm/fiber to form carbon fiber bundles 100 mm or more in length.