In order to investigate the crushing characteristics and energy conversion law of magnetite under impact load, we take magnetite with different Fe-Si ratios as the research object, and carry out impact crushing test on magnetite with different Fe-Si ratios by using Hopkinson"s compression rod to analyse the destructive deformation characteristics, compressive strength characteristics and energy conversion law of magnetite under different incident amplitudes, and combine with scanning electron microscope technology to reveal the macro-microcosmic crushing mechanism. The results show that under the impact load, the stress-strain curves of magnetite with different Fe-Si ratios do not have a compression-density phase, but directly enter the linear elasticity phase, and the modulus of elasticity and peak stress are decrease with the increase of Fe-Si ratio, and the dynamic compressive strength of magnetite decreases with the increase of Fe-Si ratio. Under the action of dynamic loading, the dissipation energy of magnetite stones with three iron-silicon ratios increases with the increase of iron-silicon ratio and incident energy, and the slopes of the fitted curves increase with the increase of iron-silicon ratio. With the increase of incident amplitude, the block size of the ore fragments is decreasing, and when the incident amplitude is the same, the block size of the ore fragments with large Fe-Si ratio is smaller than that of the fragments with small Fe-Si ratio. With the increase of the incident amplitude, the magnetite ore internal along the crystal cracks and through the crystal cracks are