Abstract: The Taxkorgan area is an important iron metallogenic belt in western China. The Laobing iron deposit, one of the typical deposits in this belt, is characterized by the assemblage of magnetite, gypsum and sulfides, serving as an ideal proxy for investigating the iron mineralization processes in this region. Based on detailed field geological investigation, this study presents LA-ICP-MS in situ trace element analyses of three types of magnetite with different occurrences from the Laobing iron deposit, aiming to constrain the ore-forming material sources, physicochemical conditions and deposit genesis. The results show that the three types of magnetite display consistent trace element spider diagram patterns, which are comparable to those of high-temperature hydrothermal deposits, indicating that the ore-forming materials were derived from submarine high-temperature hydrothermal fluids. The (Al+Mn)-(Ti+V) geothermometer and Ga-MgO diagram indicate that Mag-1 and Mag-2 crystallized at approximately 300°C, whereas Mag-3 was modified by post-ore metamorphism, recording higher re-equilibration temperatures. The pronounced enrichment of Al, Ti and V, together with elevated Ni/Cr ratios and low Ti/V ratios in magnetite, jointly suggest crystallization under relatively reducing conditions, with oxygen fugacity exhibiting a systematic decrease from Mag-1 to Mag-3. The V+Ti and Al+Mn+Ca contents of magnetite from the Laobing deposit are significantly higher than those of BIF-type magnetite, while being more comparable to hydrothermal-type magnetite. Combined with the presence of abundant gypsum-bearing layers related to marine sedimentation in the mining area, this study proposes that the Laobing deposit formed in a submarine high-temperature hydrothermal system during the Early Cambrian, experiencing early submarine hydrothermal iron precipitation and late restricted basin gypsum-salt deposition, followed by post-ore regional metamorphic overprinting.