The present invention relates to the technical field of smelting equipment, and discloses a rotary kiln magnetizing roasting heat-source-free continuous reduction apparatus and a use method. The rotary kiln magnetizing roasting heat-source-free continuous reduction apparatus comprises a tank, a material inlet and a material outlet, wherein the upper cavity of the tank is a continuous reduction region, the lower cavity is a heat exchange region, a heat exchange pipe is arranged in the heat exchange region, the heat exchange pipe inlet end is arranged on the lower side of the tank wall of the tank, the heat exchange pipe outlet end is arranged on the middle portion of the tank wall of the tank, the upper cavity tank wall of the tank is further provided with a reduction coal gas outlet, and the material inlet end and the rotary kiln outlet end are connected. According to the present invention, after being subjected to 20-30% of pre-reduction in the rotary kiln, iron ore enters the tank of the apparatus, the high temperature waste heat of the iron ore is utilized to carry out heat-source-free continuous reduction so as to complete the remaining 70-80% of the reduction process, and the obtained material is cooled to a temperature of less than 200 DEG C through the heat exchange region so as to be discharged. According to the invention, the roasting time of the iron ore in the rotary kiln is reduced, the rotary kiln productivity is increased, the reduction carbon consumption is reduced, the CO content in the rotary kiln flue gas is reduced, and energy saving and emission reduction are effectively achieved.