A hollow interphase reactor comprises a winding of the reactor, press blocks and insulating spacers. The press blocks are pressed at two ends of the winding, the insulating spacers are respectively sandwiched among different layers of the winding, and the wires are wound on a hollow tube so as to form the winding. Besides, at least one water flow channel is arranged in the hollow tube, the cross section of the water flow channel can be triangular, square, rectangular, circular or oval, the outer profile of the section of the hollow tube can be square, rectangular, circular or oval, the outer profile of the winding can be square, and the press blocks at two ends of the winding are fastened via tie bolts. The winding is formed by winding wires on the hollow tube and at least one water flow channel is arranged in the hollow tube, the winding is dissipated and heats when conducted with rated heavy-current during operation of the reactor, water is driven to flow in the water flow passage by the aid of a water pump arranged outside, and heat generated through dissipation and heating of the winding is carried away, thereby meeting requirements of operation of the system. In addition, the hollow interphase reactor has the advantages of having excellent performance and completely meeting relative national safety and environment compulsory standards and regulations.