The invention discloses equipment special for vegetable oil deacidification and deodorization. The equipment comprises a reaction kettle and a hydrogen peroxide dropwise adding tank which is connected with the reaction kettle through a pipeline and a hydrogen peroxide dropwise adding valve; the reaction kettle is internally provided with a rotary-vane stirrer and a built-in coiled pipe, the bottom of the reaction kettle is provided with a bottom valve, and the top of the reaction kettle is provided with an exhaust valve. By connecting the hydrogen peroxide dropwise adding tank to the reaction kettle, dropwise adding of hydrogen peroxide can be controlled, and meanwhile by arranging the bottom valve and an air duct at the bottom of the reaction kettle, deodorization can be conducted by introducing nitrogen. The invention further discloses a vegetable oil deacidification and deodorization technology, and the vegetable oil deacidification and deodorization technology is completed through the steps of an epoxidation reaction, deacidification and dehydration and deodorization. In the deodorization step of the vegetable oil deacidification and deodorization technology, a 5% citric acid aqueous solution is added into the reaction kettle, nitrogen is continuously introduced from the kettle bottom of the reaction kettle at the flow of 10 L/min for 2 hours, the odor of a finished oil product is reduced, and the color of the finished oil product becomes light by multiple color numbers.