Abstract: Valuable minerals in the raw iron ore in Panzhihua is magnetite, in which the ratio of magnetic iron ore is 79.53%, followed by hematite and limonite, with extreme low content of vanadium and titanium that unable to concentrate, the gangue minerals are silicate minerals such as mica, feldspar, etc. Due to its fine-disseminated particle size, the raw iron ore is difficult to recycle. In order to develop and utilize this kind of ore resources efficiently, a combined flow sheet of stage grinding-stage separation-certain magnetic separation is finally determined to treat this ore after several grinding and magnetic separation condition tests and gravity election investigated test. The beneficiation process results show that the final concentrate with iron grade of 65.50%, yield of 41.77% and metal recovery of 74.39% can be obtained when the iron grade of raw ore is 36.78% and the content of -43 μm is 98% of the final grinding particle size. It provides a new reference process for the Panzhihua fine disseminated iron ore.