The Lietinggang deposit is a newly discovered typical large-sized polymetallic deposit in the Fe-Mo-Cu-Pb-Zn ore concentration area of the Linzhou basin. There are mainly three types of magnetites in this mining area, i.e., massive, disseminated and veined magnetite. On the basis of detailed geological survey and systematic mineralogical studies, the metallogenic period of this deposit can be divided into two periods, i.e., skarn period and hydrothermal and supergene period, which include five ore-forming stages: early skarn stage, degradation and alteration stage, early hydrothermal stage, quartz-sulfide stage and carbonatization stage. The massive magnetite mainly formed at the degradation and alteration stage, whereas both the disseminated and veined magnetites formed at the early hydrothermal stage. In this study, the authors selected the magnetites as the main object of study and used electron microprobe analysis (EPMA) and rare earth trace elements ICP-MS experiments to gain an insight into the geochemical characteristics and minerageny of magnetites. The results show that three different types of magnetites (massive, veined and disseminated magnetites) contain Ti, Si, Ca and other minor elements such as Na, K, Cr, Ni, Co, Pb, Ba, Sn. In addition, a variety of trace elements like Sr, Sb and Cu can be detected. There are mainly Al, Mg and Mn replacing the other elements. Combining TiO₂-Al₂O₃-MgO, TiO₂-Al₂O₃-(MgO+MnO) and (Ca+Al+Mn)-(Ti+V), Ni/(Cr+Mn)-(Ti+V), and other discrimination diagrams with orefield geological characteristics, the authors have reached the conclusion that the magnetites of the Lietinggang deposit belong to hydrothermal magnetite. The massive magnetite has obvious positive Eu anomaly, the disseminated and veined magnetites show negative Eu anomaly, and they all have no significant Ce anomalies. The massive magnetites might have been formed in an environment of high oxidation and temperature with the fluids rich in Eu. At the hydrothermal stage, the fluids were gradually transformed into a low temperature and oxidation which could contribute to the formation of disseminated, veined magnetites and a large quantity of sulfides. Moreover, the main sources of iron materials were related to granodiorite and porphyry granite.