Aiming at the disposal of waste liquid-solid Fuel Air Explosive(FAE) composed of isopropyl nitrate and magnesium powder, a physical separation method was proposed to separate magnesium powder from isopropyl nitrate and to recycle metal magnesium powder, and then the isopropyl nitrate was converted into non-explosive isopropanol by chemical hydrolysis and was recycled. The impact sensitivity and friction sensitivity of liquid-solid FAE were tested, and the separation effects of liquid-solid FAE by various methods, i.e., gravity filtration, decompression filtration, pressure filtration, centrifugal filtration, were studied. The results show that the liquid-solid FAE has a strong ability to bear the impact of collision and friction during the separation, and the separation of liquid-olid FAE by centrifugal filtration has advantages of fast speed and high safety. The scale-up process for hydrolysis of isopropyl nitrate were studied and the hydrolysis conditions of isopropyl nitrate were determined: V(isopropyl nitrate)∶V(water)=1∶3, n(isopropyl nitrate)∶n(NaOH)=1∶1.1, reaction temperature at 150 ℃, reaction time of 30 min. On this basis, the process flow, unit devices, structure and technical parameters of the mobile equipment for treating the liquid-solid FAE were proposed, and the treatment equipment was developed accordingly. The test results of the equipment are shown as follows: after centrifugal filtration process of 2.6 kg liquid-solid FAE for 3 min, the content of isopropyl nitrate in magnesium powder is 0.69%, which indicates the liquid-solid separation effect is perfect; after hydrolysis process of 15 kg isopropyl nitrate for 30 minutes, the conversion rate of isopropyl nitrate reaches 99.4%, which indicates the hydrolysis of isopropyl nitrate completes thoroughly.