In this paper we develop a reduction method for multiple time scale stochastic reaction networks. When the transition-rate matrix between different states of the species is available, we obtain systems of reduced equations, whose solutions can successively approximate, to any degree of accuracy, the exact probability that the reaction system be in any particular state. For the case when the transition-rate matrix is not available, one needs to rely on the chemical master equation. For this case, we obtain a corresponding reduced master equation with first-order accuracy. We illustrate the accuracy and efficiency of both approaches by simulating several motivating examples and comparing the results of our simulations with the results obtained by the exact method. Our examples include both linear and nonlinear reaction networks as well as a three time scale stochastic reaction-diffusion model arising from gene expression.
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