Abstract: The Huoqiu iron ore field in Anhui is tectonically located in the south margin of North China platform. At the center of Huoqiu iron ore field, there lies Lilaozhuang iron-magnesite deposit, which occurs in the metamorphic rocks of Archean Huoqiu group, with ores hosted in the Mg-rich carbonate rocks. The types of ore minerals can be divided into magnesite-magnetite type and serpentine-magnetite type, accounting for 25% respectively. The major metallogenetic matters came from the multilayered dispersed iron formation in the metamorphic series. According to the geological characteristics of the deposit, combined with the ore isotopic evidences and dating data, the Lilaozhuang iro n-magnesite deposit probably belongs to a Neoarchean marine volcanic sedimentary-metamorphic type of deposit.