In the production process of large-diameter seamless steel pipes, the blank heating quality before roll piercing has an important effect on whether subsequently conforming piping is produced. Obtaining accurate pipe blank heating temperature fields is the basis for establishing and optimizing a seamless pipe heating schedule. In this paper, the thermal process in a regenerative heating furnace was studied using fluent software, and the distribution laws of the flow field in the furnace and of the temperature field around the pipe blanks were obtained and verified experimentally. The heating furnace for pipe blanks was analyzed from multiple perspectives, including overall flow field, flow fields at different cross sections, and overall temperature field. It was found that the changeover process of the regenerative heating furnace caused the temperature in the upper part of the furnace to fluctuate. Under the pipe blanks, the gas flow was relatively thin, and the flow velocity was relatively low, facilitating the formation of a viscous turbulent layer and thereby inhibiting heat exchange around the pipe blanks. The mutual interference between the gas flow from burners and the return gas from the furnace tail flue led to different flow velocity directions at different positions, and such interference was relatively evident in the middle part of the furnace. A temperature “layering” phenomenon occurred between the upper and lower parts of the pipe blanks. The study in this paper has some significant usefulness for in-depth exploration of the characteristics of regenerative heating furnaces for steel pipes.