The invention relates to a reductive regeneration system and a reductive regeneration process for a pavement surface milling material. At present, most road milling materials in China are used as stones and used with cement or directly abandoned, and asphalt is wasted, for mainly the processing technology and the processing equipment are not matched with the road milling materials. The system comprises a decomposition and dust removal unit and an asphalt material reduction unit, wherein the decomposition and dust removal unit comprises a feed hopper, a vibratory feeder, a crude stripper, a first conveyor belt, a fine stripper, a second conveyor belt, a classifier, a material-water separator and a plurality of third conveyor belts; the asphalt material reduction unit comprises a mixed hopper, an asphalt material recovery coating vibration reciprocating stirrer and a cold material conveyor belt; and the mixed hopper consists of a plurality of hoppers. The system ensures that the components of asphalt are not changed and the asphalt can be recycled, is considerable in benefit, advanced in process, reasonable in structure, clean in decomposition, uniform in recovery coating, low in investment, good in use performance, multi-purpose, suitable for cold and hot materials and net in suction and discharge, does not leave wastes, and has high production efficiency.