The invention discloses a smelting method for preparing pellets from vanadium titano-magnetite by internally adding carbon, which is a method for comprehensively recovering vanadium, titanium and iron in the vanadium titano-magnetite, and comprises the following steps: firstly, adding coke powder, an iron-carbon displacer and bentonite into the vanadium titano-magnetite, making pellets of 8-12mm on a disc pelletizer, roasting the made pellets in a rotary kiln of a chain grate machine, producing metallized schreyerite, thermally charging the schreyerite in a submerged arc furnace or a high-temperature box-type furnace for reduction melting separation, realizing oxygen enrichment and pulverized coal injection in the submerged arc furnace, separating vanadium-containing molten iron and titanium slag, and preparing the titanium slag into titanium dioxide; and subjecting the separated vanadium-containing molten iron to oxygen blowing through an electric furnace to extract vanadium, separating vanadium slag and semi-steel molten iron out, and roasting and subjecting the vanadium slag to acid leaching to extract vanadium, so that recovery of vanadium, titanium and iron is achieved. The invention relates to a novel process for preparing pellet vanadium titano-magnetite by adding carbon and an iron-carbon displacer and realizing oxygen enrichment and pulverized coal injection smelting in a submerged arc furnace so as to overcome the technical problem of difficult schreyerite smelting in the prior art.