Based on mass balance and heat balance calculation model, the energy utilization of pellet roasting, gas-based shaft furnace reduction and electric furnace smelting process of high phosphorus oolitic haematite was calculated, and the influence on energy consumption of the total process with different additives was investigated. Furthermore, the gas-based shaft furnace was divided into three parts, namely preheated zone, reduction zone and cooling zone. Taking chemical reactions that taken place in different parts, as well as roasting pellets and sponge iron with different temperatures into consideration, the relative mass balance and heat balance calculation model are established for energy analysis, which can provide a theoretical foundation for energy saving of gas-based shaft furnace reduction technology.