The invention provides a method for reducing ilmenite, which comprises the following steps: sending ilmenite, a reducer and a desulfurizer, which serve as raw materials, into a microwave high-temperature kiln; sequentially preheating, sintering and cooling; and sequentially pulverizing, screening, carrying out magnetic separation, and carrying out jet mil blending, wherein in the sintering process, microwaves of which the frequency is 2450MHz are emitted to the raw materials until the reduction temperature of the sintering belt in the kiln reaches 600-800 DEG C. In the sintering step, the microwaves of which the frequency is 2450MHz are emitted to the raw materials, so that the raw materials quickly absorb microwave energy from inside to outside, thereby ensuring the integral heating uniformity of the material, enhancing the heating uniformity of the raw materials, enabling the ilmenite to sufficiently participate into the reducing reaction, and being beneficial to enhancing the grade of the product; the microwave heating speed is high, so that the time for reaching the temperature required by the generation of the reducing reaction is shortened, thereby shortening the production cycle and lowering the energy consumption. Therefore, the ilmenite prepared by the method provided by the invention has the characteristics of high product yield and low energy consumption.