Abstract: Based on the characteristics of some Bayer red mud, deep reduction-magnetic separation experiments were done to study the effects of influencing factors such as reductant dosage, additive quantity, reduction temperature, reduction time, grinding fineness and magnetic field intensity on the grade of iron ore concentrate and the iron recovery rate. The phase compositions and char-acteristics of red mud and iron ore concentrate were determined by chemical analysis, X-ray diffraction (XRD), scanning electron mi-croscopy (SEM) and energy dispersive spectroscopy (EDS). It is shown that the grade of iron ore concentrate is 85.66% and the iron recovery rate is 91.86% without any additive. When the additive is used, the grade of iron ore concentrate is 91.23% and the iron recovery rate is 93.13%.