A method of continuously producing carbon nanotubes and hydrogencomprising: preparing a catalyst precursor, and pre-reducing the catalyst precursor; adding a height of carbon nanotubes in a reactor as a stacked bed and electrically heating the carbon nanotubes to the reaction temperature of a vapor deposition furnace in the presence of a protective gas; putting the pre-reduced catalyst or unreduced catalyst precursor into the reactor; under the condition of stirring the solid materials in the reactor, introducing a carbon source gas, reacting same by means of the vapor deposition furnace to generate new carbon nanotubes and hydrogen, continuously discharging a part of carbon nanotubes and a part of hydrogen, and repeating these steps to achieve the continuous preparation of carbon nanotubes. The device has a high utilization rate of raw materials, can manufacture a large batch of carbon nanotubes with a high purity at one time, and is suitable for large-scale industrial production.