Abstract: The geological condition in China is favorable for iron mineralization. There are six types of iron deposits in China: sedimentary-metamorphic type, magmatic type, skarn type, volcanic type, sedimentary type and weathering-leaching type. Among which the first two types have the greatest potential, while the grade generally is low. The size of the skarn type and volcanic type generally is small, but most rich iron deposits in China come from these two types. Most of the ores from sedimentary type are difficult for beneficiation. The metallogenetic potential of weathering-leaching type is very small. Identified iron resource in China is abundant ane most of them are suitable for beneficiation. Majority of these identified iron resources distribute in or near the traditional iron production bases in eastern China. The basic reserve of the identified iron resource can meet up to 50% of domestic demand for more than 10 years. Additionally, identified resource can be further upgraded into basic reserve and provide longer supply. There also exist many mineral occurrences and prospects pending on further evaluation as well as many magnetic anomalies to be inspected. There have been ore-prospecting breakthroughs in or around the deep and lateral parts of identified iron deposits in recent years, also there is large potential of discovering new iron deposits in western China, which provide positive vision for ensuring long-term iron demand mainly by domestic resources.