Abstract:“Yangli magnetic anomaly” was found in 1967. Because its geological environment is favorable area for skarn type iron deposit, and it is close to Wenshibu iron deposit, its large scale and the characteristics of weak magnetic anomalies, it has attracted wide attention of geologists. Many geological units have carried out a large number of iron ore prospecting work in this area, but there is no breakthrough to “Yangli magnetic anomaly”. From the view of high precision gravity and magnetic anomalies, quantitative interpretation and quantitative calculation have been carried out to “Yangli magnetic anomaly”. Through drilling and other technical means, it is furtherly inferred that “Yangli magnetic anomaly” are caused by Paleogene magnetite clastic sand conglomerate and diorite.