The invention belongs to the technical field of deep processing of cereals such as rice, and relates to a method of reducing heavy metal residues of cereals such as rice polluted by heavy metals such as cadmium and lead and processing byproducts. The method comprises the following steps: by taking the heavy metal polluted cereals such as rice, wheat and corn and cereal processing byproducts such as rice bran and bran as raw materials, purifying, cleaning, soaking by a soaking liquid, defibrinating and settling and separating to obtain a supernate; carrying out pH regulation, settlement or membrane separation, washing, settlement and drying to obtain cereal proteins; carrying out washing, pH adjustment, filtration and drying on precipitate to obtain cereal starch or polysaccharide; or carrying out washing, pH adjustment, protease hydrolysis, washing, filtration and drying to obtain cereal starch or polysaccharide. The permissible content of heavy metals such as cadmium, lead, arsenic, mercury and nickel in products such as cereal proteins, cereal starch or polysaccharide prepared by the method provided by the invention satisfies the national standard.