Abstract: A separation device, comprising: a third-stage cyclone housing, a separating unit, and a granule recycle and regeneration unit, wherein, the separating unit is disposed inside the third-stage cyclone housing and comprises: a cyclone separator and a moving bed coupled to each other; the granule recycle and regeneration unit comprises: a riser, a spouted bed regenerator, and a regeneration pipe connecting the spouted bed regenerator with the moving bed; the spouted bed regenerator has upper and lower ends opposing to each other, wherein, the upper end of the spouted bed regenerator is provided with a sleeve which opens downwardly, the sleeve divides an interior of the spouted bed regenerator into a fountain area and an annular gap area, and a regenerating gas outlet which is in communication with the annular gap area is provided on a side wall of the spouted bed regenerator.