Low-carbon Ti2O3 was prepared by carbonthermal reduction of the mixture of titanium dioxide and activated carbon at vacuum condition. The kinetics and phase evolution of Ti2O3 formation process were investigated through X-ray diffraction and gravimetric analysis. The only intermediate phase detected is Ti3O5. The reduction time was reduced sharply to 4 h when temperature was raised to 1300 degrees C. The best molar ratio of activated carbon and TiO2 is 0.6-1. At this condition, the content of Ti2O3 in slag is up to 95.63% and the content of the carbon element is below 0.004%, which meets the requirements for the further preparation of metal Ti by FFC Cambridge process. At the same time, the microstructure of Ti2O3 generated presented porosity, which would promote the electro-deoxidation process extremely.