This paper focuses on the use of in situ and ex situ characterisation techniques to provide evidences of carbon species on a commercial iron-based Fischer-Tropsch synthesis catalyst as well as other indices of potential deactivation mechanisms. In situ XANES measurements demonstrate that re-oxidation or transformation of the active iron phase, i.e. the Hägg carbide phase, was not a significant deactivation mechanism at the studied conditions. Sintering of Hägg carbide nanoparticles is significant with increasing temperatures and time on stream. The sintering mechanism is proposed to be a hydrothermally-assisted process. In situ DRIFTS indicates the presence of different carbon species on the catalyst surface such as aliphatic hydrocarbons f...