Abstract：The Shihlu ore deposit in Hainan is one of the famous mining areas not only for large amounts of iron but also for considerable economic values of associated minerals such as copper and cobalt. This paper reevaluated the major factors controlling the orientations of ore bodies, and discussed the source of metallogenic materials, the relationship between magmatic activity and the metallogenic process, and the metallogenic epoch. The results show that the metallogenic materials of the Shilu ore deposit were possibly derived from the Shilu Group of primary volcanic-sedimentary formations, and later regional metamorphism and magmatic activity played an important role in the transformation and concentration of these material. On such a basis, the authors defined initially it as the type of the volcano-sedimentary metamorphic and multi-period hydrothermal superimposition transformation. This paper summarized the metallogenic model of the Shilu ore deposit as follows: 1) Submarine volcanic exhalation stage in Neoproterozoic period, which established the foundation of metallogenic materials of Fe-Co-Cu; 2) Metamorphic metallogenic stage in Caledonian-Hercynian period, which formed the lean metamorphic ore bodies; 3) Hydrothermal transformation stage of Indosinian-early Yanshanian period, which caused important transformation and concentration of the ore deposit, and produced rich iron ore bodies; 4) Hydrothermal transformation stage of late Yanshanian period, which transformed the original ore bodies, and produced the vein/breccia iron ore bodies and also the associated copper-cobalt ore bodies.