Abstract: A series of relatively large-size magnetite deposits have been discovered in Taxkorgan area of western Kunlun, Xinjiang, e.g., Laobing iron deposit, Qiaopukalimo iron deposit, Yelike iron deposit and Jiertiekegou iron deposit. Because these deposits have unique geological features and metallogenic epoch, the authors name them “Pamir-type” iron deposits as a new type of iron deposit in the world. With the Laobing iron deposit as an example, the authors studied geological features, metallogenic epoch and genesis of this kind of ore deposit, and the results show that the ore deposit occurs in biotite quartz schist of Bulunkuole Group, where magnetite mineralization is extensively developed with the syngenetic combination of magnetite-pyrite-gypsum-anhydrite, which constitutes a special anhydrite-gypsum-iron formation. LA-ICP-MS U-Pb isotopic dating of detrital zircon shows that iron formation of Bulunkuole Group was formed in early Paleozoic period, and the ore deposit was genetically of marine volcanic sedimentary magnetite type subjected to later superimposed reformation of some regional metamorphism. The discovery of the new iron deposit type has important reference significance in enriching types of iron deposits and prospecting for the same type of iron deposits all over the world.