The invention relates to a liquid phase hydrogenation reactor and a liquid phase hydrogenation process. The liquid phase hydrogenation reactor comprises a total exhaust gas discharging opening A, independent catalyst bed exhaust gas discharging openings A1-An, a raw oil inlet pipeline B1, hydrogen supplementing pipelines B2-Bn, a plurality of independent catalyst beds C1-Cn, a reactor barrel D, a product outlet pipeline E and liquid phase product conveying pipelines E1-E(n-1), wherein n is an integer greater than 1. The plurality of independent catalyst beds are serially connected inside the reactor, and the exhaust gas discharging opening is formed in the top of each catalyst bed, so that an adverse impact of H2S, NH3 and other harmful impurities produced in the reaction on the hydrogenation reaction can be avoided; the new hydrogen supplementing opening is formed at the feed opening of each catalyst bed so as to ensure that a liquid raw material can sufficiently dissolve hydrogen. In addition, through arrangement of the independent catalyst beds, compatibility of catalysts can be performed according to different raw oil properties, so that the hydrogenation efficiency is improved, and the service life of the catalysts is prolonged.