A fixed bed regenerative cycle reactor is provided. The fixed bed regenerative cycle reactor comprises a preheating section, a reaction section and a regenerative section which are sequentially arranged in the flowing direction of reactants, and the preheating section comprises a reactant inlet, a first heat transfer medium inlet, a first heat transfer medium outlet and a preheating pipe set communicated with the reactant inlet, wherein the reactant inlet, the first heat transfer medium inlet and the first heat transfer medium outlet are formed in a shell; the reaction section comprises an upper tube plate, a lower tube plate and a reaction unit which are arranged in the inner cavity, and a second heat transfer medium inlet and outlet formed in the shell; the reaction unit is arranged between the upper tube plate and the lower tube plate; the heat regeneration section comprises a reaction product outlet, a third heat transfer medium inlet and a third heat transfer medium outlet which are formed in the shell, and a heat regeneration pipe group which is arranged in the inner cavity and is communicated with the third heat transfer medium inlet and outlet; the first heat transfer medium inlet is communicated with the second heat transfer medium outlet and/or the third heat transfer medium outlet, and the first heat transfer medium outlet is communicated with the second heat transfer medium inlet and/or the third heat transfer medium inlet.