The invention discloses a reducing pot for smelting of metal calcium and magnesium and a casting technique of the reducing pot. The reducing pot comprises ingredients of a pot body and a reducing pot external application material, wherein the ingredients of the pot body comprise, in percentage by weight, 20%-22% of Cr, 6%-6.9% of Ni, 0.7%-1.3% of Si, 0.1%-0.15% of N, 0.2%-0.4% of RE, 0.23%-0.28% of C, 0.8%-1.2% of Mn, 0.8%-1.2% of Ti, 0.5%-0.8% of Co, 0.5%-1.0% of W, smaller than or equal to 0.035% of S, smaller than or equal to 0.040% of P and the balance of Fe; the reducing pot external application material is prepared from the ingredient, namely, 20-40 mesh quartz sand. The high-temperature creep resistance of the reducing pot is further improved by adding Co, W and Ti ingredients on the basis of a conventional pot, so that the service life of the reducing pot is prolonged; the cost of the added material is moderate, the unit production cost of the reducing pot is reduced, the integrity of the reducing pot is improved in the casting process with the specific casting technique, the compactness and the strength of the reducing pot are reinforced, the service life of the reducing pot is further prolonged, and the production cost of the reducing pot is reduced.