With superheated steam from thermal power plants for medium, the fluidized bed jet mill which had improved vertical turbine classifier was used to study Superheated steam as media in processing ultra-fine fly ash technology. Experiment tested the energy consumption of processing fly ash with superheated steam, which was converted into standard coal compared with the air jet mill technology to prove the environment and energy saving advantages in superheated steam-gas processing ultra-fine fly ash. Experimental results showed that this technology has low energy consumption, high grinding force, and its grinding, grading, collection process is completely in dry method, so this technology is an ideal method for processing ultra-fine fly ash by low-cost and large-scale. At the same time, this paper assessed the environmental benefits of some environmental indicators. Finally, the applications of this technology are summarized.