By using laboratory high temperature experimental furnace, stage reduction test on vanadium and titanium iron concentrate with carbon-containing pellets under experimental conditions of 1 350 ℃ and in nitrogen atmosphere is introduced，and its tissue composition, microstructure is also studied by TG-DTA, XRD, SEM and other testing method. The experimental results show that reduction process on quick reduction of vanadium and titanium iron concentrate of carbon-containing pellets respectively is Fe2TiO4 and Fe3O4, 3(Fe3O4)·Fe2TiO4, Fe3O4·Fe2TiO4, Fe2TiO4 and FeO, Fe and FeTi2O5. In the stage of generating float by magnetite iron reduction, the new phase of Fe2TiO4 is generated, and finally vanadium and titanium iron concentrate is reduced into Fe and (Fe,Mg)Ti2O5.