A reduction apparatus and a reduction method of a fine iron ore are disclosed. The reduction apparatus of the fine iron ore according to the present invention includes: a granulated ore pre-reduction furnace into which the fine iron ore is charged to be pre-reduced by a reduction gas; an ultra-fine ore pre-reduction furnace into which an ultra-fine ore scattered in the granulated ore pre-reduction furnace to be discharged is charged to be pre-reduced; a first magnetic separator separating a gangue component from the ultra-fine ore reduced in the ultra-fine ore pre-reduction furnace and then discharged; at least one intermediate reduction furnace into which the granulated ore reduced in the granulated ore pre-reduction furnace to be discharged and the ultra-fine ore from which the gangue component is separated are charged to be further reduced and thus increase a reduction ratio of the granulated ore and the ultra-fine ore; and a final reduction furnace finally reducing the granulated ore and the ultra-fine ore reduced in the intermediate reduction furnace to be discharged to manufacture a reduced iron.