Abstract: Under the laboratorial condition, the kinetic study on reaction of reducing V₂O₅ by carbon saturated molten iron was carried on using CaO-SiO₂-Al₂O₃-MgO-V₂O₅ as the base slag. Base on the investigation of the influence of different factors on the reduction rate and degree of the reaction, the reducing reaction mechanism was studied, and the apparent rate constant was calculated under different conditions. The experimental results show that the conditions of high temperature, proper slag basicity, large weight ratio between liquid iron and slag and high initial V₂O₅ content can make the reducing reaction fast and obtain high reduction degree. Before reaching the balance, the reaction shows as apparent first class reaction. The apparent activation energy is 23.21 kJ· mol^-1, which indicates that the limit step of the reaction is the diffusion of V in liquid iron.