Vanadium-titanium magnetite was reduced with the process of smelting reduction, and the effects of content and sources of carbon on the reduction of vanadium and titanium were investigated by chemical analysis and XRD. The results show that the vanadium and titanium content in the sample increased with the solid carbon content; different carbon providing method had a significant impact for the reduction, and the mixed carbon providing an optimum reduction result, with the vanadium and titanium content in the sample reaching 0.221% and 1.22% respectively; titanium is able to desulfurize during the reduction process, and the sulfur decreased with the increase of titanium, while the vanadium increased.