Abstract: The IOCG type deposits are rich in iron oxides and often lacks sulfide, the high precision magnetic survey seems to bethe important and effective meansin search for this type of deposits.The Incaguasi iron deposit is located in the IOCG metallogenic belt of north-central Chile and its geological work remains at relatively low level.Based on geological characteristics of this deposit, this paper focuses on upward continuation, downward continuation and 2.5D inversion fitting for the high precision magnetic data of the central mining area by RGIS.The results show that the magnetic geological body in this area is generally NE-striking and NW-dipping with steep dip angle.Expect for No.1 and No.5 anomaly, several magnetic anomaly centers for ore prospecting are relatively large and the burial depths are generally between 50 m and 120 m.These results provide an effective basis for the further geological prospecting.At the same time, this exploration method can provide reference for the prospecting work of IOCG type iron ore deposits in China.