The invention discloses an iron-containing material suspending and reducing device and an iron-containing material suspending and reducing process, and belongs to the field of gas-solid phase heat exchange and thermal reaction of iron and steel metallurgical technology. Gas phase and solid phase in a jet reduction furnace flow upwards in parallel and are fully contacted; and the heat transfer coefficient and the mass transfer coefficient are high, so that the mean residence time of an iron-containing material in the system is shortened and rapid heating, reduction and separation of the powdery iron-containing material can also be realized. The device and the process meet the technological requirements on reduction of the iron-containing material, reduce the fluid resistance loss and system pressure drop, balance system airflow velocity and pressure drop, keep stable operation of the system, provide pre-reduced iron-containing material micropowder with metallization rate of between 60 and 90 percent for continuous steelmaking and melting furnace and guarantee high yield, small investment and low cost.