The invention relates to a novel natural gas smelting reduction ironmaking process which comprises the steps of preheating and prereduction of iron ore powder, smelting, slag and iron separation, natural gas preheating and gas making by coal gas. The novel natural gas smelting reduction ironmaking process is characterized in that after the iron ore powder is preheated and prereduced, natural gas is used as a reducing agent in the final reduction process and iron ores are subjected to smelting and final reduction in a smelting reduction mode; the slag and iron separation of molten liquid iron and molten slags is implemented in a siphon mode; high temperature gas exhausted from a final reduction furnace is subjected to gas making of the coal gas, dust removal and temperature reduction by coal gas and is subjected to pressure swing adsorption processing after exchanging heat with the natural gas; and heat required by the complete process is provided by the combustion of the natural gas (methane). Compared with the existing process, the process has the advantage that the CO2 discharge is reduced by about 50 percent.