Effect of temperature and Mg:Ti ratio on phase composition and microstructure of reduced pellets was investigated to verify the feasibility of preparation of magnesium titanate by adding MgO in carbonthermic reduction of the vanadium titanomagnetite concentrates (VTC). Thermodynamic analysis results showed that magnesium titanate is more easily generated than FeTi2O5 or TiO2 by the reaction of FeTiO3 and MgO under the reductive atmosphere, which was confirmed by the discovery of magnesium titanate at roast experiment. It was found that the optimum conditions for reduction of VTC pellets were temperature of 1250 ºC and Mg:Ti ratio of 2, and the main phases of reduction product were metallic Fe and magnesium titanate (Mg2TiO4). However, trace iron impurities in Mg2TiO4 particles were found by energy-dispersive spectroscopy (EDS), so further purification is required.