This study aims to provide theoretical and technical basis for economical and rational use of high phosphorus oolitic hematite. Following physical, chemical and microscopic characterisation of high phosphorus oolitic hematite ore the feasibility of separation of phosphorus and metallic iron by reduction roasting and magnetic separation process were investigated. The results indicate that such a process is a feasible and efficient method for iron and phosphorus separation of high phosphorus oolitic hematite. The recovery of metallic iron and dephosphorisation rate is relatively low without additives but is significantly improved by appropriate CaO and Na2CO3 addition. With 8%CaO and 3%Na2CO3 the recovery of metallic iron and dephosphorisation rate reach 95.1 and 94.0% respectively.