Yaochang iron deposit in the southern margin of North China platform geographically lied in Lushan region, Henan Province. The ores and wall rocks are controlled by Tieshanling Formation of Taihua Group of Archean period. There are two main ore bodies in the Yaochang deposit, which are composed mainly of pyroxene itabirite and amphibole-itabirite with minor hornblende schist, marble and migmatite. Characteristics of petrography and mineral chemical compositions indicate that the rocks have experienced amphibolite facies metamorphism at pressure condition of 0.36~0.74 GPa. Yaochang iron deposit has a similar mineral assemblage, metamorphism type and types of sedimentary facies to those of Late Archean banded iron formations in North China Platform. Some iron-rich minerals may be an important indicator for the hunting of larger iron deposits.