Hanwang iron deposit in Yiyuan county of Shandong province is a large banded iron deposit in North China Craton. Its ore bodies occur in the metamorphic rocks of upper Yanlingguan formation of NeoArchaean Taishan Group. The ore bodies are generally layered with thickness of 1~25m, which can extend over 8000m intermittently. The iron ores are characterized by banded texture with alternating siliceous and ferruginous. The orebearing rocks are named as magnetiteplagioclase amphibole schist, magnetitequartz amphibole schist and their gneisses. Its original rock belongs to basic volcanic rocks and volcanic sedimentary rocks. Combining with advanced development gained in chronology, isotope geochemistry and metallogenesis of Precambrian BIF iron deposit in recent years by domestic and overseas scholars. It is regarded that Hanwang iron deposit was formed during 2.6Ga in marine chemical sedimentary environment. Its ore materials were associated with volcanic hydrothermal solution. It is concluded that stable sedimentary environments resulting from NeoArchaean cratonization of North China and anaerobe involving were all indispensable during the formation of the deposit.