Abstract: Laobing gypsum magnetite deposit, a new deposit type, is located in the west side of Ta'axi major fracture. This article is based on the newest investigation results and the analysis about the mining area geology as well as ore deposit geology. Then we get the conclusion about the mineralization process of Laobing gypsum magnetite deposit: the submarine volcanic activities brought a lot of hot solution with salt and metallic solution to form the ore-bearing solution who transferred by the driving of Eh and pH value discrepancy, then under certain physicochemical conditions, iron would precipitate and form magnetite. Meanwhile, interaction between the hot ore-bearing solution and the seawater provided sulfur for anhydrite, thus the symbiosis of gypsum and magnet happened. This phenomenon would help us to deepen understanding about the West Kunlun metallogenic belt and summarize the regional metallogenic regularity.