The invention discloses a slag bath reduction treatment method for electric furnace stainless steel slag. The method is conducted in the following steps that (1) the electric furnace stainless steel slag is heated to 1400-1500 DEG C to form a molten slag pool, and aluminum ash is added; (2) heat preservation is conducted for 0.5-1.0 h, and meanwhile argon is blown into the bottom to stir the molten slag pool; and (3) liquid alloy is discharged and solidified, and Fe-Mn-Cr crude alloy is obtained. The method is a typical method dealing with waste by waste, and efficient utilization of solid waste can be achieved; and the Fe-Mn-Cr crude alloy with the high additional value can be obtained, the treatment cost is low, and the environment pollution is small.