Industrial multi-walled carbon nanotubes (ig-MWCNTs) make up the majority of carbon nanomaterials, and human contact with them is the most probable. At the same time, the biodegradation of ig-MWCNTs by phagocytes has not been studied—existing articles consider mainly laboratory-grade/functionalized MWCNTs (l-MWCNTs), in contrast to which ig-MWCNTs are a highly heterogeneous nanomaterial in terms of morphological and physicochemical characteristics. The aim of the present study was to analyze ig-MWCNTs’ biodegradation by proinflammatory macrophages. We focused on both extra- and intracellular ig-MWCNTs’ degradation. We analyzed biodegradation of two different types of ig-MWCNTs by human (THP-1) and murine (RAW264.7) macrophages. After 10 days of incubation, we studied nanoparticle localization within cells; isolated intra- and extracellular ig-MWCNTs were used for quantitative analysis. Ultrastructural and morphometric analysis were performed using transmission electron microscopy; electron diffraction was used for nanotube identification. To estimate chemical alterations, energy-dispersive X-ray spectroscopy and Raman spectroscopy were used. The study showed that both intra- and extracellular ig-MWCNTs undergo almost complete biodegradation, but in different ways: intracellular nanotubes become perforated and reduce to graphene flakes, while extracellular become thinner. We believe that the demonstrated variability in the destruction of ig-MWCNTs by cells suggests the possibility of creating nanomaterials with controlled biodegradation properties.