Process for the recovery of iron as a form of iron(II) acetate from low-grade magnetite ore was studied. The dissolution rate of iron oxide from magnetite in aqueous oxalic acid solution was measured as a function of the different initial pH, reaction temperature and oxalic acid concentration, respectively. In general, optimum dissolution conditions of iron oxide were the temperature higher than 90°C , pH 1, oxalic acid concentration 0.5M. Iron hydroxide precipitate from magnetite/oxalic acid solution was obtained at pH 3.5-4 and purity of iron hydroxide was 90%. Finally, iron(II) acetate precipitate was obtained by reaction of iron hydroxide precipitate in the mixture of aqueous acetic acid solution and acetic anhydride at 90°C . The mode of bonding of the acetate group to iron(II) acetate was conformed to be bidentate by FT-IR analysis. XRD and SEM analyses indicated that iron(II) acetate precipitate is amorphous or low crystalline state.