The invention discloses a device and method for extracting iron from iron tailings through suspension roasting. The device comprises a feeding bin, a venturi dryer, a pre-oxidation suspension roastingfurnace, a suspension reduction roasting furnace, a collecting bin, a dry magnetic separator, a first-stage ore grinding machine, a first-stage low-intensity magnetic separator, a second-stage ore grinding machine, a second-stage low-intensity magnetic separator and an induced draft fan. The method comprises the following steps of (1), finely grinding the iron tailings; (2), conveying the ore fines to the vnturi dryer; (3), mixing and dehydrating combustion flue gas and ore fines in the venturi dryer; (4), preheating the ore fines and feeding the ore fines into the pre-oxidation suspension roasting furnace; (5), pre-oxidizing and roasting in a suspension state, and then feeding into the suspension reduction roasting furnace; (6), carrying out reduction roasting in a suspension state; (7),cooling and then feeding into the collecting bin; and (8), carrying out first-stage ore grinding and first-stage low-intensity magnetic separation after dry magnetic separation, and then carrying outsecond-stage ore grinding and second-stage low-intensity magnetic separation. The device and the method have the advantages of high heat and mass transfer efficiency, high production continuity, hightreatment capacity, high adaptability, easiness in realizing large-scale industrial production and the like.