Heavy oil processing process

The invention provides a heavy oil processing process. According to the process, a fresh fed material is heated in a convection section of a heating furnace, and is subjected to a reaction in a shallow thermal cracking reactor; a material delivered from the reactor is subjected to gas-liquid separation; separated liquid-phase material is returned to a coking heating furnace and is heated; the heated liquid-phase material is divided into two parts which enter a coke tower respectively from the upper part (including the top part) and from the bottom part of the coke tower, and is subjected to deep thermal reaction; produced oil gas leaves from the top of the coke tower, and is fractionated in a coking fractionation tower; and after fractionation, a part of coking heavy oil is returned as circulation oil and is subjected to the reaction again. With the process, yields of dry gas and coke can be reduced, liquid product yield can be improved, heating furnace coking can be retarded, and coking device operation period can be prolonged.