Using reed (Phragmites australis (Cav.) Trin. ex Steud) as raw material, straw pulp was prepared by low alkali (less than 6%) pretreatment combined with mechanical grinding. The effects of pretreatment times and alkali dosages on pulp properties and pretreatment solution were investigated. The results demonstrated that alkali pretreatment affected FPI beating efficiency, and the beating energy consumption was lowest when pretreated with alkali dosage of 4%. With 5% NaOH pretreatment, the produced handsheets showed excellent properties that exceeded the requirements of food packaging paper and C-class corrugated paper. Moreover, low silicon content (≤1.12 g/L) in the pretreatment liquor had an almost negligible effect relative to alkali recovery. Therefore, this study is important for researchers and industrial representatives seeking to use reed straw as material for pulping.