Abstract: Accurately and quickly determining the geological properties related to magnetic anomaly sources is a key technical challenge in magnetic prospecting, directly influencing the accuracy of geological interpretation using magnetic survey data. The induced magnetization varies with time, whereas the remanent magnetization typically remains constant over time. Therefore, there exists a theoretical basis for investigating the properties of magnetic anomaly source bodies by detecting the time variations of magnetic anomaly intensity. Despite geophysicists' relevant research in this field, practical technical methods have not been established. Hence, this study proposed a novel method for determining magnetite ore-induced magnetic anomalies. Based on the observational data of geomagnetic diurnal variations, the proposed method constructed parameters, including the variations (A), variation rate (η), and normalized variations (F) of magnetic anomaly intensity, to evaluate the properties of strong magnetic anomaly source bodies. Accordingly, the proposed method determined the possibility of magnetite ore-induced magnetic anomalies, showing critical significance for magnetite exploration.