The invention relates to a shrapnel bullet loading ejector and an ejecting method. The ejector comprises a rack, a stepping conveying device arranged on the rack, a locking agent dissolving device, a bullet temporary storage device, a compression screwing-off device, an ejecting device, a discharging device, a pneumatic system used for providing pneumatic power, and an electric control system used for controlling all the parts, wherein the locking agent dissolving device, the bullet temporary storage device, the compression screwing-off device, the ejecting device and the discharging device are sequentially arranged on the same side of the stepping conveying device in the feeding direction of the stepping conveying device. According to the shrapnel bullet loading ejector and the ejecting method, three bullets can be simultaneously disassembled; meanwhile, the three bullets are synchronously controlled by the stepping conveying device to convey among stations, that is, the three bullets can be conveyed synchronously through one cyclic action of the stepping conveying device; and thus, operation steps are greatly simplified, the device structure is optimized, and the work efficiency is improved. Furthermore, bullet bodies face upward all the time in the whole disassembling process, the jet flow face of a cartridge shape cover faces downwards, accordingly actions such as overturning are decreased, and safety of the disassembling process is improved.