Abstract: The Panzhihua-Xichang region is famed at the world for the super-large V-Ti magnetite deposit occurred within the mafic-ultramafic ore-bearing rock-masses there. It's an important producing area of iron ore and a momentous base of vanadium titanium resource in China. After studying and analyzing the geologic characteristic of this deposit, as well as the controlling effects of tectonics and wall rocks on mineralization, it's pointed that the ore-forming materials of the Hongge vanadic titano-magnetite deposit were originated from the upper mantle, and the crustal material mixed with mantle material during the crystallization differentiation process of basaltic magma. The formation of this deposit must meet the requirements of time and space. Basic ultrabasic rocks, dolomitic limestone in Dengying Formation and Emeishan basalt are necessary conditions for the formation of the Hongge vanadic titano-magnetite deposit.