Abstract: Under the laboratorial conditions, using CaO-SiO₂-Al₂O₃-MgO-V₂O₅ slag as the base slag system, kinetic study on the reaction of reducing V₂O₅ by carbon saturated molten iron was carried on.The influence of the factors, such as time, temperature, slag basicity, slag compositions, initial V₂O₅ concentration, etc., to the rate and reduction degree of the reaction was investigated.The experimental results show that V₂O₅ content in the slag decreases gradually with the time extending, meanwhile the content of V in molten iron increases gradually.The conditions of high temperature, proper slag basicity, high weight ratio between liquid iron and slag and high initial V₂O₅ content can make the reducing reaction fast and obtain high reduction degree.