An amphiphilic metallic chelate-aromatic sulfonic iron was synthesized for the first time, characterized by Fourier transform infrared (FT-IR) spectroscopy, and then used in catalytic aquathermolysis of heavy oil both in the laboratory and field. The laboratory results showed that this new catalyst was efficient, universal, and superior to other efficient catalysts we have synthesized before; in addition, for EX35 heavy oil, it led to a evident viscosity reduction by 90.66% at 200 degrees C with 14.66% in conversion of heavy contents to light contents. To evaluate the its performance, the structure and group composition of heavy oil was analyzed by FT-IR, thin-layer chromatography-flame ionization detection (TLC-FID), gas chromatography/mass spectrometry (GC/MS), H-1 NMR, and elemental analysis (EL) before and after the aquathermolysis. It is found that the changes of the composition and structure of the heavy oil can lead to the viscosity reduction. In field tests of G61012 and G6606 wells in the Henan oilfield, the production increased by 188.7 and 217 t in 14 d (an observed period) after catalytic aquathermolysis technology, respectively, and the viscosity of oil reduced at a rate of 79.66% and 82.25%.