The catalyzing effect of additives on the direct reduction of cold bound pellets from titanomagnetite concentrate was studied in detail, which covered the dosage of four kinds of additives and the corresponding catalyzing mechanism. It is shown that the percent metallization of reduced pellets is improved by 3.1%～4.6% when DA 2 is added, compared with addition of Na 2SO 4 or Na 2CO 3 and under the conditions of reduction temperature 1 080 ℃, m (C)∶ m (Fe) 0.58 and reduction duration 3 h. The separation of iron from vanadium and titanium was carried out successfully through magnetic concentration of finely ground metallized pellets, and the results have been achieved as follows: the grade of iron in magnetic concentrate is increased by 5.30%～5.43%, the grade of vanadium and titanium increased by 2.76%～3.87% and 0.27%～0.45%, and the recovery increased by 14.68%～13.08% and 4.13%～6.97% in the non magnetic tailings, respectively. The results of SEM and XPS determination have proved that the function of additive DA 2 lies in accelerating iron oxide reduction and enhancing the growth of metal iron crystal, the tightness of paragenesis among metal iron, vanadium and titanium oxide being loosened, and the separation of iron from vanadium and titanium being improved.