The invention relates to a smelting process of low-grade zinc and lead material and a device, which conduct blast furnace reducing smelting through adopting hot air to blow powdered fuel, directly produce high grade zinc oxide and wet lead, wherein the content of pellet zinc in zinc and lead material is 10%-20%, the content of lead is 2%-8%, the content of sulfur is lower than 2%, moisture is 5%-15%, the height of material column in furnace is remained between 2-3m, the temperature of a molten pool is 1100 DEG C-1250 DEG C, the temperature of hot air is 350 DEG C-480 DEG C, the pressures is 15-25 KPa, the coke yield is 18%-25%, the four alkality of R=0.5-1.2. Double air inlets (3) are arranged on the upper portion and the lower portion of a furnace hearth (2), and a hot air sleeve (4) is arranged on the middle lateral portion of the blast furnace. The invention has the advantages of simple structure, stable and reliable working, excellent continuous production, convenient operation, high recovery rate of zinc and lead and low cost, which can effectively treat low grade zinc and lead material.