Abstract: In order to achieve the goal of lowcost production of high-purity V-Al master alloy,the feasibility of employing water-cooled copper crucible to prepare the alloy by"one step"aluminothermic reduction process is probed into. After several rounds of experiments,compared with the traditional refractory furnace in raw material preparation,production process,reaction and chemical compositions of the alloy produced,the water-cooled copper crucible can realize lower impurity content in alloy,higher yield of vanadium and more stable reaction. It can basically meet the requirement of lowcost production. Furthermore,the reasons for those results are discussed in detail.