The invention provides an ilmenite concentrate fluidization reaction device and method. The device comprises a preheating unit and a fluidization reaction furnace, wherein the preheating unit comprises a bin, a spiral feeding device, a cyclone dust collector as well as a first cyclone preheater, a second cyclone preheater and a third cyclone preheater which are connected in series sequentially from top to bottom; the fluidization reaction furnace comprises a furnace body, a fluidization gas inlet, a gas distributor, a feeding port, a discharging port, an upper baffle plate and a lower baffle plate; the feeding port is formed in the furnace wall, located above the gas distributor and communicated with a discharging port of the third cyclone preheater; and the upper and lower baffle plates are arranged in an inner cavity of the furnace body in the cross section direction of the furnace body and located between the feeding port and the discharging port, the distance between the upper and lower baffle plates ranges from 0.5 m to 1.5 m, the ratio of the diameter of each of the upper and lower baffle plates to the diameter of the inner cavity of the furnace body is (0.8-0.9):1, and the aperture ratio of each of the upper and lower baffle plates is 15%-40%. According to the ilmenite concentrate fluidization reaction device and method, the reaction efficiency of the ilmenite concentrate in the whole fluidization system can be increased, the structure is simple, control is easy, and functions are reliable.