Iron ore tailings have become one kind of the most hazardous solid waste. In order to recycle iron in the tailings, we present a technique using magnetizing roasting process followed by magnetic separation. After analysis of chemical composition and crystalline phase, according to experimental mechanism, the effects of different parameters on recovery efficiency of iron were carried out. The optimum reaction parameters were proposed as the following: ratio of coal: iron ore tailings as 1:100, roasting at 800 degrees C for 30 min, and milling 15 min of roasted samples. With these optimum parameters, the grade of magnetic concentrate was 61.3% Fe and recovery rate of 88.2%. With this method, a great amount of iron can be reused. In addition, the microstructure and phase transformation of the process of magnetizing roasting were studied.