Abstract: The effect of chemical composition of vanadium bearing hot metal in Pangang's blast furnace on desulphurization of hot metal, vanadium recovery from hot metal and steelmaking process is analyzed on the basis of the metallurgical features of V-Ti-bearing magnetite and the characteristics of smelting process in blast furnace. It is suggested that every smelting step should play a positive role during V-Ti-bearing magnetite smelting process, by experimental study, the chemical composition of vanadium bearing hot metal in blast furnace is made to optimize, so as to gain more benefit.