A reducing water purification material having a reducing iron-based precipitate selected from green rust, iron ferrite, reducing iron hydroxide, and a mixture thereof. A wastewater treatment process having steps of adding a reducing iron compound to wastewater, leading the wastewater to which the reducing iron compound is added to a reaction tank and forming a precipitate, separating the formed precipitate by a solid-liquid separation to obtain a sludge, and alkalinizing all or a portion of the separated sludge to form an alkaline sludge followed by returning to the reaction tank, wherein in the precipitation step, the wastewater to which the reducing iron compound is added and the alkaline sludge are mixed and are allowed to react in a non-oxidizing atmosphere under alkaline condition to form a reducing iron compound precipitate as the precipitate, thereby incorporating contaminants in the precipitate to remove the contaminants from the wastewater.