The geophysical ore-prospecting model of the Huimin iron deposit was established on the basis of studying the characteristics of gravity and magnetic field of the Huimin iron deposit at three different levels. Combined with the proven bore hole data and the parameters of the ores, the authors got the resource quantity of C1 and C2 magnetic anomalies along No. 76 exploration line by using magnetic anomaly to fit the volume of iron ore body. The resource quantity of other magnetic anomalies was also obtained by analogy. A comparison with the proven resource shows that there exists some potential in search for iron ore bodies in this area.