The invention discloses a melt polycondensation method. Melted monomer blends or prepolymers slide down along the outer walls of tubular falling-film elements so as to be subjected to polycondensation, melts on all the falling-film elements gather at the bottom of a polycondensation reactor so as to be further stirred for reaction and mixed uniformly, and materials are discharged after the reaction finishes. The polycondensation reactor for implementing the method comprises a vertical shell, an end enclosure on the upper end, a bottom shell on the lower end, the falling-film elements, a heat transfer system, a film distributor and a helical ribbon stirrer, wherein the falling-film elements are corrugated pipes with optimized structural parameters. The polycondensation reactor has the advantages of simple structure, sufficient heat exchange, large film forming area, uniform reaction temperature and high polycondensation efficiency, guarantees the laminar flow in the process and can be used for the melt polycondensation of polyethylene glycol terephthalate, polytrimethylene terephthalate, polybutylene terephthalate, polyethylene naphthalate, polyamide and polycarbonate.