The invention relates to a star-wheel speed reducer, which belongs to speed reducer technology field, comprising an input shaft, output shaft, gears, geared ring and a through cover, characterized in that the reducer casing is provided with the input shaft, output shaft, gears, geared ring. The input shaft is equipped with an eccentric sleeve, which is provided with double axial bearings, the eccentric sleeve is provided with two eccentric bearings equipped gears, the two gears are externally connected with tooth rings, the two gears are fixed on an even-carrying plate and the output shaft, the even-carrying plate is provided with a bearing, and a sealing ring is provided between the output shaft excircle and the through cover. The invention is provided with advantages of simple structure, smaller volume, high bearing capacity, low production cost, high transmission accuracy, convenient assemblage and combined application with other types of speed reducers, which can be widely used in speed reducer industry.