The reduction behaviors and characteristics of products of the Fe-Cr-O system (FeCr2O4 and Fe2O3+Cr2O3) and Fe-Cr-Ni-O system (Fe2O3+Cr2O3+NiO) under various conditions were studied. The results show that more Fe-Cr or Fe-Cr-Ni solution and less residual carbon content were obtained at higher temperatures and lower initial molar ratio of C to O (nC:nO). The degree of reduction was highly dependent on both time and temperature, and the residual carbon content greatly increased with increasing nC:nO at each temperature. The products generated during the carbothermic reduction of the Fe-Cr-O system were examined using X-ray diffraction (XRD). A scanning electron microscope (SEM) coupled with energy dispersive spectrometer was used to observe the microstructure and the distribution of elements in the various phases of the final reduction products of the Fe-Cr-O and Fe-Cr-Ni-O.