The invention relates to a device for separating out scrap iron from cutting fluid. The device comprises a supporting frame. A cylinder is connected to the upper end of the supporting frame. A centrifugal cylinder is arranged inside the cylinder. A filter net is arranged on the side wall of the centrifugal cylinder. A driving motor is arranged above the cylinder and connected with the centrifugal cylinder through a rotating shaft. A feeding inlet is formed in the upper end of the centrifugal cylinder. The cylinder and the centrifugal cylinder are communicated at the feeding inlet. A scrap discharge pipe is arranged at the bottom of the centrifugal cylinder and stretches out of the cylinder. A drying chamber is connected to the lower end of the scrap discharge pipe. A plurality of heating devices and a plurality of concave-shaped partition plates uniformly distributed from top to bottom are arranged inside the drying chamber. Holes are formed in the middles of the concave-shaped partition plates. A scrap discharge outlet is formed in the bottom of the drying chamber. A liquid outlet is formed below a gap between the centrifugal cylinder and the cylinder. The device improves the separation efficiency of scrap iron and cutting fluid, is high in automation degree and has the function of drying scrap iron.