The vacuum reduction refining was used to prepare the high titanium ferroalloy with low oxygen, using the high titanium ferroalloy prepared by an aluminum thermal method as raw materials, and Al as the reducing agent. Effects of the refining temperature and time on the refining result were studied, and the high titanium ferroalloy was characterized by XRD, SEM and chemical elemental analysis. The results show that the refined high titanium ferroalloy consists mainly of TiFe2, Fe2TiO5, TiO, Al2O3, TiAl and Fe0.942O phases. The microstructure of the refined alloy is uniform and compact, the inclusions in the alloy are effectively removed and the oxygen content decreases dramatically. However, too high refining temperature and too long refining time will worsen refining effect. The titanium content in the refined alloy is within (69.00-71.00)%, Al content is lower than 2.50%, silicon content is lower than 2.63%, and the oxygen content is lower than 3.52%, which is fully consistent with the technical indicators of the high quality high titanium ferroalloy.