Abstract: Simulation tests of a patent two-stage in series process and conventional single-stage process for Fischer-Tropsch synthesis were carried out on a 10 L(oil)/h pilot plant slurry bed reactor system continuously, using a commercial precipitation iron catalyst. The test results show that as compared with single-stage process under the same processing capacity or oil yield, the required catalyst of this new process is more than 20% less, the processing capacity of per unit volume reactor is much higher and a reduction of about 60% total circulating gas is observed, thus the energy consumption and operation cost are lower. This unit is more integrated and its initial investment is also lower since a few equipments, such as a recycle gas compressor can be omitted.