The invention discloses an iron-carbon fiber micro-electrolysis reaction device, which consists of a machine frame, a reaction device case, a reaction unit, a high-pressure cylinder, a U-shaped wind pipe, a Roots blower, a distribution pipe, a pneumatic sealing valve and a residual liquid discharge opening, wherein the reaction unit is in a cylindrical shape, the inner layer is a hollow pipe, the outer layer is a stainless steel screen, and a hollow filter core made of iron dust and activated carbon fiber is placed between the inner layer and the outer layer to be fixed in the reaction device case, wherein the activated carbon fiber (ACF) has the adsorption, conduction and catalytic oxidation performance, the activated carbon fiber and the micron order pure iron powder are compounded proportionally to be used as a novel water treatment filling material, and the novel water treatment filling material is made into the filter core to be placed into a cylinder of the reaction unit. Under the action of the micro-electrolysis, the strong oxidizability on oxygenous water-soluble organic substances, chlorinous water-soluble organic substances and water-soluble organic substances with benzene rings can be realized. Because ions generated by substances such as salt (NaCl, CaCl2) and the like are needed in the waste water treatment process, the equipment can be used as an effective device for removing CODcr from waste water with high salt content.