HIsmelt, as one of the non-blast furnace ironmaking processes, is rapidly becoming a focus of attention in the steel industry due to its outstanding advantages in terms of low requirements for raw materials and short and environmentally friendly process. In HIsmelt, a reasonable inner shape of a smelting reduction vessel has an important influence on combustion and heat transfer through changing flow field. Therefore, in this study, the effects of HIsmelt reactor parameters including oxygen-lance insert depth, and smelting reduction vessel body height and throat angle on combustion and heat transfer are investigated through the numerical simulation of the flow field, temperature field, and CO2 concentration field inside smelting reduction vessel. The results show that the heat transfer effect is further improved when increasing the oxygen-lance insert depth because the U-shaped vortex affects a wider area. In addition, as the smelting reduction vessel body height increases and the throat angle decreases, the U-shaped vortex gradually moves away from the melt pool and increases the scouring of the sidewalls. The increased temperature difference and low CO2 concentration indicate that this change reduces the combustion and heat transfer efficiency.