To achieve high efficiency utilization of Panzhihua vanadium titano-magnetite, a new process of metalizing reduction and magnetic separation based on hot briquetting is proposed, and factors that affect the cold strength of the hot-briquetting products and the efficiency of reduction and magnetic separation are successively investigated through laboratory experiments. The relevant mechanisms are elucidated on the basis of microstructural observations. Experimental results show that the optimal process parameters for hot briquetting include a hot briquetting temperature of 475℃, a carbon ratio of 1.2, ore and coal particle sizes of less than 74 μm. Additionally, with respect to metalizing reduction and magnetic separation, the rational parameters include a magnetic field intensity of 50 mT, a reduction temperature of 1350℃, a reduction time of 60 min, and a carbon ratio of 1.2. Under these above conditions, the crushing strength of the hot-briquetting agglomerates is 1480 N, and the recovery ratios of iron, vanadium, and titanium are as high as 91.19%, 61.82%, and 85.31%, respectively. The new process of metalizing reduction and magnetic separation based on hot briquetting demonstrates the evident technological advantages of high efficiency separation of iron from other valuable elements in the vanadium titano-magnetite.