Abstract：The Pingshun iron deposit is one of the typical skarn iron deposits in southern Shanxi Province, with the development of two magmatic belts. The two magmatic belts are similar to each other in some geochemical features such as low silicon and high magnesium, enrichment of light REE with a weak positive anomaly of Eu, depletion of heavy REE, enrichment of LILE, especially Sr, Ba and K, and depletion of HFSE, especially Nb, Ta and Ti, enrichment of radiogenic Pb, and the existence of such xenocrysts as olive, amphibole and pryroxene in olive gabbro-diabase of the first belt. All these phenomena show that the two belts are characterized by the same source and rapid emplacement. An analysis of data from six typical holes reveals that the magmatic hydrothermal solution tended to migrate from east to west. Combined with the emplacement characteristics of the two magmatic belts, it is held that the second belt was formed by the lateral emplacement of late stage rocks in the first belt, and that these two belts might be connected to each other in the depth, which is favorable to mineralization. All these results will provide the theoretical basis for deep ore prospecting.