Calcium ferrite is the most basic bonding phase in sinter and the matrix of Silico-ferrites of calcium and aluminium (SFCA). In order to better understand the fundamentals of the reduction of CaO•Fe 2 O 3 , CaO•Fe 2 O 3 samples were prepared by solid-state sintering and reduced by CO/CO 2 mixture gas at 1000°C. Then, the equilibrium phase and morphology were tested by XRD and SEM-EDS. The experimental results indicated that ( 1) As CO/(CO + CO 2 ) = 20%, CaO•Fe 2 O 3 was reduced to CaO•FeO•Fe 2 O 3 and 2CaO•Fe 2 O 3 . (2) As CO/(CO + CO 2 ) = 40%, CaO•FeO•Fe 2 O 3 was reduced to CaO•3FeO•Fe 2 O 3 and 2CaO•Fe 2 O 3 , the equilibrium phases were CaO•3FeO•Fe 2 O 3 and 2CaO•Fe 2 O 3 . (3) As CO/(CO + CO 2 ) = 60%, CaO•3FeO•Fe 2 O 3 was reduced to FeO and 2CaO•Fe 2 O 3 , and 2CaO•Fe 2 O 3 was still the stable phase. (4) As CO/(CO + CO 2 ) = 80%, FeO was reduced to metallic Fe, and 2CaO•Fe 2 O 3 was reduced to metallic Fe and CaO. The finding from this work may be used as a theoretical foundation for the research of the reduction of SFCA.